02 Maret 2018, USD/JPY
Technical observation
After a breakout below the support zone (108.03-107.80), price rallied down up to a key line 105.53,it got rejected and was corrected to the zone twice before continuing down. Right now the pair is rallying towards 105.53 and I expect a possible rejection or a breakout below it.In case of a rejection, wait for a pull back to (108.03-107.800 before you re sell the pair and in case of a breakout, wait for a retracement before you continue long, right now I would advise you remain flat. Long positions can only be advised in case there’s a clear breakout above the zone (108.03-107.80).
Technical levels
Resistance levels
R1.107.38
R2.108
R3.109.02
Pivot
107.06
Support levels
S1.106.36
S2.105.97
S3.104.95
Trade signal
Remain flat.