19 сентября 2018, USD/JPY
Technical observation
USD/JPY is still rising towards the resistance 112.53,I expect either a rejection around it followed by a correction to the supportive zone 111.79-111.72 or a breakout it with a big green candle followed by a correction to it for upwards movement of price. Wait for the correction to 111.79-111.72 to re-buy USD with your take profit still at 112.53 and stop loss slightly below 111.72.In case of a breakout above the line 112.53 with a big green candle, wait for a correction to it confirming bullish momentum of price before you pick long positions. Only long positions look ideal and can be recommended on the 4Hour chart above.
Technical levels
Resistance levels
R1.111.02
R2.112.03
R3.112.07
Pivot
111.103
Support levels
S1.111.97
S2.111.95
S3.111.91
Trade signal
Remain long.
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