17 октября 2018, USD/JPY
Technical observation
On the daily chart above, US dollar went up as predicted against the Japanese Yen and I still expect a rise in price of the dollar towards 114.53.If you picked long positions yesterday within the key support zone 111.82-111.61, remain long with your take profit at 114.51 and stop loss around 110.68.Should there be a clear breach above 114.52 with a big green candle, wait for a correction it confirming further rise in price before you continue long with this pair. Only buy positions look ideal and can be recommended on the chart above. Short positions may only be advisable in case of a clear breakout below the zone 111.82-111.62.
Technical levels
Resistance levels
R1.112.52
R2.112.84
R3.113.44
Pivot
112.4
Support levels
S1.111.9
S2.111.58
S3.110.96
Trade signal
Remain long.
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