06 June 2018, USD/JPY
Technical observation
The pair on the daily chart above is on a upward movement with three retracements at a support zone 109.01-108.78.Currently price is between a resistance line 110.92 and the zone 109.01-108.78 .I expect either a rise to 110.92 and a breakout above it or a correction to 109.01-108.78 and a rejection of price within the zone for possible bullish momentum towards 110.92,I would advise you remain flat and wait for either a correction to 109.01-108.78 then long the pair within it ,or a breakout above 110.92 followed by a correction to it to buy the pair. Short positions can only be recommended below 109.01-108.78.
Technical levels
Resistance levels
R1.109.83
R2.110.14
R3.110.84
Pivot
109.45
Support levels
S1.109.12
S2.108.72
S3.108.02
Trade signal
Remain flat.
101% Double the volume