08 Maret 2018, USD/JPY
Technical observation
USDJPY broke below a support zone (108.14-107.79) with a big red candle then raced down towards a key line,105.20,it was then pulled back to the broken zone but could not break above it and was rejected then declined again towards 105.20,currently,price is rallying below the zone and i expect a correction to the zone to short the pair with my take profit at 105.20 and stop loss around 108.90,if price does not get corrected to (108.14-107.79) and instead breaks below 105.20,wait for a correction to it before you sell USD.In case of a breakout above 108.14,wait for a retracement to buy USD.
Technical levels
Resistance levels
R1.106.52
R2.106.83
R3.107.72
Pivot
105.93
Support levels
S1.105.62
S2.105.04
S3.104.15
Trade signal
Sell USD after a correction to (108.14-107.79) with your take profit at 105.20 and stop loss around 108.90.