14 Maret 2018, USD/JPY
Technical observation
USD broke below a support zone (108.06-107.78) and is currently trading below it,USD has corrected back to the zone twice and is currently pulling back towards it.I expect a rejection of it within the zone for a decline in price towards the key line 105.52.In case of a break out below 105.52 I expect a further deline in price towards 100.61,I would advise you wait for a correction to the zone then short USD within it with your take profit at 105.52 and stop loss around 108.64.Long positions can only be advised in case there’s a clear breakout above 108.06 with a big green candle and a retracement to it.
Technical levels
Resistance levels
R1.106.68
R2.106.92
R3.107.34
Pivot
106.7
Support levels
S1.106.26
S2.106.08
S3.105.55
Trade signal
Wait for a correction to (108.06-107.78) to short USD with your take profit at 105.52 and stop loss around 108.64.