12 июля 2018, USD/JPY
Technical observation
Yesterday, the pair on the daily chart above broke above a key resistance zone 111.27-111.07 with a big green candle and is still rising. I expect a pullback to the just broken zone followed by a bounce from it for possible bullish momentum of price towards the resistance line 114.76.You can remain flat right now and wait for the correction to 111.27-111.07 then long the pair within it with your ideal target at 114.74 and stop loss slightly below 111.07.In case of a beach above 114.76, wait for a correction to it before you continue long with the pair. On the chart above only long positions look ideal and can be advised.
Technical levels
Resistance levels
R1.110.97
R2.111.35
R3.111.96
Pivot
110.78
Support levels
S1.110.35
S2.110.12
S3.109.51
Trade signal
Remain flat .
Do you know against which currencies JPY is the most profitable?
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