16 Maret 2018, USD/JPY
Technical observation
On the chart above, USD is rallying towards a key line 105.52, Previously, USD retraced at a key zone (108.06-107.78), recently, price failed to pull back to the zone and is rallying towards 102.85,I expect a breakout below 105.52 and a correction to it followed but a decline in price towards 102.83,oeven lower to 100.07 if price breaks below it..If is pulled back to (108.06-107.78) you can short USD within or around and in case of a breakout above 108.06,wait for a correction to it to confirm bullish movement of price before you enter a long position towards the key line 114.33,Right now, wait for a breakout below 105.52.
Technical levels
Resistance levels
R1.106.68
R2.106.92
R3.107.34
Pivot
107.1
Support levels
S1.106.26
S2.106.08
S3.105.55
Trade signal
Wait for breakout below 105.52 to short USD with your take profit at 102.85 and stop loss around 106.48.