Wait for a correction | 06 November 2018
06 November 2018, USD/JPY
Technical observation
USD/JPY was rejected at the supportive zone 112.66-112.60 then went up as i predicted, currently it is rallying around a resistance line 113.37 and I expect a rejection of it at the line followed by another correction to the 112.66-112.60 for possible bullish movements of USD.I bought this pair within 112.66-112.60 and I’m looking to pick my profits at 113.37.If you had not bought this pair yet, wait for a correction to 112.66-112.60 and a rejection within it to buy USD with your ideal target at 113.37 and stop loss slightly below 112.60.Should there be a clear break above113.37,wait for a pullback to it before you continue long.
Technical levels
Resistance levels
R1.113.26
R2.113.28
R3.113.35
Pivot
113.21
Support levels
S1.113.19
S2.113.14
S3.113.07
Trade signal
Wait for a correction to 112.66-112.60 to re- buy USD.
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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.
