Flat | 26 April 2017
26 April 2017, USD/JPY
Technical Observation:
USD rose almost 170pips but is currently facing a notable resistance zone 111.60-111.38. On the 4 Hour chart above, this is a key sell zone and only a clean breakout above it will trigger further long positions. Buy above 111.60 towards 112.15; sell on bouncing off from 111.38-111.60 with your Sl slightly above 111.60 and TP 109.72. My Advice, remain flat for now and only short USD on bouncing off from 111.38.
Technical levels:
Resistance levels
R2: 111.2
R2: 111.31
R2: 111.63
Pivot Point
111.2
Support Levels
S1: 111.15S2: 111.17
S3: 111.18
S4: 111.19
Trade Signal
Flat
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.
