18 июля 2018, USD/JPY
Technical observation
USD/JPY is still racing towards the resistance zone 114.12,I expect either a correction to the just broken zone 111.27-111.07 or a rally to 114.12 and a rejection from it for downwards movement of price. If price rises and gets rejected from 114.12,short term traders can short USD from the level towards 111.27,in case it pulls back to 111.27-111.07,then it will be the ideal time for long term traders to long GBP towards 114.12.If price rises to 114.12 and breaks above it, wait for a correction to it before you long the pair on the second retracement to it just to ensure it is not a false breakout, Right now remain flat with the pair.
Technical levels
Resistance levels
R1.112.67
R2.113
R3.113.52
Pivot
112.49
Support levels
S1.112.15
S2.111.95
S3.111.42
Trade signal
Remain flat
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