Remain flat | 20 July 2018
20 July 2018, USD/JPY
Technical observation
USD/JPY is still pulling back to the just broken zone 111.27-111.07,I expect a rejection of it within the zone for possible bullish movement of price towards the resistance 114.2 and a possible breakout above it.Right now remain flat and wait for the correction to 111.27-111.07 then long the pair on the chart above within it after a rejection of price with your ideal target at 114.12 and stop loss slightly below 111.07.If price breaks above 114.12,wait for a correction to it before you continue long with the pair. Short positions may only be recommended in case there’s a clear breakout below 111.07 with a big red candle and a correction to it.
Technical levels
Resistance levels
R1.112.67
R2.113
R3.113.52
Pivot
112.53
Support levels
S1.112.15
S2.111.95
S3.111.42
Trade signal
Remain flat .
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
