Sell within 111.45-111.42 | 13 September 2018

13 September 2018, USD/JPY

Sell within 111.45-111.42

Technical observation

On the hourly chart above, price is rallying towards a resistance zone 111.45-111.42,I expect nothing but a rejection of it within the zone for possible bearish movements of price towards the support 111.18,a breakout below 111.18 followed by a correction to it is a confirmation of further bearish momentum towards 110.91 or even lower to 110.70.Wait for the correction to the above mentioned zone then short USD within it with your first take profit at 111.18 and the next at 110.91.only short positions look ideal on the chart above and can be recommended within 111.45-111.42.You can only pick long positions above111.45-111.42.

Technical levels

Resistance levels

R1.111.04

R2.111.08

R3.111.15

Pivot

111

Support levels

S1.110.97

S2.110.92

S3.110.84

Trade signal

Short USD/JPY within 111.45-111.42 with your take profit at 111.18 and stop loss around 111.57.

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

Sell within 111.45-111.42

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Imelda Maseno
Analyst of «FreshForex» company
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