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Remain long

Remain long | 18 September 2018

18 September 2018, USD/JPY

Remain long

Technical observation

USD/JPY retraced to the key support zone 111.79-111.72 as predicted yesterday, price could not penetrate below the zone and was rejected, it is currently moving up and I expect a rally towards the line 112.53 and a possible breakout above it for a further rise in price ,I bought this pair within 111.79-111.72 and I will maintain this position with my ideal target at 112.53 and stop loss slightly below 111.72.In case of a breakout above 112.53 with a big green candle, wait for a correction to it before you continue long with this pair. Only long positions look ideal and can be recommended on the 4 hour chart above.

Technical levels

Resistance levels

R1.111.02

R2.112.03

R3.112.07

Pivot

111.101

Support levels

S1.111.97

S2.111.95

S3.111.91

Trade signal

Remain long.

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Remain long

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Imelda Maseno
Analyst of «FreshForex» company
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