13 августа 2018, USD/JPY
Technical observation
The pair on the daily chart above is trading between a key resistance zone 114.71-113.62 and support 107.12,I expect either a correction to 114.71-113.62 followed by a rejection within it for bearish momentum of price or a rally down towards 107.12 followed by a breakout below it and a correction to it for downwards movement of price. In case of a correction to 114.71-113.62,short USD within it after a rejection of price with your take profit at 107.12,and in case there’s a breakout below 107.12,wait for a correction to it before you enter short positions with your ideal target at 100.59.Right now remain flat.
Technical levels
Resistance levels
R1.111.47
R2.112.01
R3.113.03
Pivot
110.99
Support levels
S1.110.46
S2.109.98
S3.108.96
Trade signal
Remain flat.
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