Remain flat | 27 July 2018

27 July 2018, USD/JPY

Remain flat

Technical observation

Yesterday USD/JPY went up as predicted but could not break above the zone 111.23-110.93, it is now retracing to it and I expect either a rejection of it within the zone for bullish movement of price or a clear breach below the zone with a big red candle for possible bearish momentum. In case price is rejected within the zone, re-buy USD within it with your ideal target at 113.62 and stop loss slightly below 110.93, and if there’s a clear breach below 111.23-110.93 with a big red candle, wait for a correction to it before you enter short positions with your ideal target at the support 108.73.Right now remain flat.

Technical levels

Resistance levels

R1.111.06

R2.111.19

R3.111.43

Pivot

110.102

Support levels

S1.110.83

S2.110.72

S3.110.49

Trade signal

Remain flat.

Do you know against which currencies JPY is the most profitable?

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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