27 августа 2018, USD/JPY
Technical observation
USD/JPY is trading between a resistance zone 114.61-113.62 and a support 107.12.I expect either a spike to the upper side followed by a breach above the zone with a big green candle or a rejection of price within 114.61-113.62 for possible bearish momentum towards 107.12.In case of a breach above 114.61-113.62,wait for a correction to it to confirm bullish movements of price before you enter long positions, and in case of a rejetection within the zone, resell the pair within it with your ideal target at 107.12 and stop loss slightly above 114.61.Right now remain flat and wait for either top trade the pair.
Technical levels
Resistance levels
R1.111.91
R2.112.56
R3.114.27
Pivot
110.84
Support levels
S1.110.2
S2.109.13
S3.107.41
Trade signal
Remain flat.
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