We're long | 24 October 2018
24 October 2018, USD/JPY
Technical observation
USD established a daily support zone around 111.82-111.41 and for days now it has been stagnating above this zone with no clear indications of breaking below it. Yesterday price pulled to the above mentioned zone but could not penetrate below it and while it is contained above this zone, I believe USD is still within the buyers reach. If you picked long positions yesterday within111.82-111.41, remain long but have your take profit at 114.51.If this take profit is taken then I believe price will continue long .In case you are not in a trade yet, wait for another retracement to 111.82-111.41 then buy USD within it with your ideal target at 114.51.
Technical levels
Resistance levels
R1.112.67
R2.112.82
R3.113.13
Pivot
112.55
Support levels
S1.112.36
S2.112.2
S3.111.89
Trade signal
Remain long
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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.
