Remain flat | 27 July 2018
27 July 2018, USD/JPY
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.
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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.
