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.

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

Remain long

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Imelda Maseno
Analyst of «FreshForex» company
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