Remain flat | 13 July 2018

13 July 2018, USD/JPY

Remain flat

Technical observation

USD/JPY is still rising steadily towards the resistance 114.76,I expect a correction to the zone 111.27-111.07 followed by a rejection of it from the zone for bullish momentum towards 114.76.My advice, remain flat and wait for the correction to 111.27-111.07 then long USD within it with your ideal target at 114.76 and stop loss slightly below 111.07.I expect arise to 114.67 and even a breakout above it for a further rise in USD.Only long positions may be recommended in the chart above towards 114.67.Short positions may only be ideal in case on a breakout below the zone 111.27-111.07

Technical levels

Resistance levels

R1.110.97

R2.111.35

R3.111.96

Pivot

110.80

Support levels

S1.110.35

S2.110.12

S3.109.51

Trade signal

Remain flat.

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Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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