Remain flat | 06 August 2018

06 August 2018, USD/JPY

Remain flat

Technical observation

On the weekly chart above, price is rallying between a resistance zone 114.73-114.12 and a support 106.85, I expect a correction to 114.73-114.12 and a rejection of price within it for a possible bearish momentum of price towards 106.85, or a breakout above 114.73-114.12 followed by a correction to it for possible bullish movements of price. My advice, remain flat and wait for the correction to 114.73-114.12 and a rejection within it to short USD with your take profit at 106.85 and stop loss slightly above 114.73.In case of a break below 106.85,wiat for a correction to it before you continue short with the pair.

Technical levels

Resistance levels

R1.112.04

R2.112.81

R3.114.23

Pivot

111.39

Support levels

S1.110.62

S2.109/97

S3.108.55

Trade signal

Remain flat.

Do you know against which currencies JPY is the most profitable?

Remain flat

More trading assets here...

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .