Wait for a correction to 111.96-111.83 | 02 October 2018
02 October 2018, USD/JPY
Technical observation
USD/JPY established a daily support zone when price broke above a resistance 111.96-111.83,USD pulled back to the just broken zone and was rejected before rallying up towards a key line 114.4,price was rejected at it and is currently retracing to 111.96-111.83.while the price is contained above this zone, I believe USD is still within the buyers reach.AS it is ,I’m waiting for retracement to 111.96-111.83 and a bounce sign to re-buy USD towards 114.14.Should the price ascend above 114.14,then I’ll wait for a correction to it to confirm further bullish momentum of price before I continue long with USD.
Technical levels
Resistance levels
R1.113.84
R2.113.98
R3.114.38
Pivot
113.59
Support levels
S1.113.43
S2.113.17
S3.112.76
Trade signal
Wait for a correction to 111.96-111.83 to buy USD/JPY.
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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.
