Remain flat | 20 Maret 2018

20 Maret 2018, USD/JPY

Remain flat

Technical observation

USD is rallying around a key line,105.52,I expect a breakout below it for a decline in price towards the lower line 102.85,in case of a breach below 102.85,I expect a further decline in price towards 100.07.In case price does not break below 105.52 and instead is pulled back to the zone (108.06-107.76)wait for a rejection within or around it to short USD.If there’s a clear breakout above(108.06-107.76) with a big green candle, wait for a correction to it to confirm bullish movement of price before you enter long positions. Right now remain flat and wait for a breakout below 105.52 or a retracement to (108.06-107.76) to sell USD.

Technical levels

Resistance levels

R1.106.34

R2.106.64

R3.107.27

Pivot

106.01

Support levels

S1.105.71

S2.105.38

S3.104.74

Trade signal

Remain flat and wait for a breakout below 105.52 or a retracement to (108.06-107.76) to sell USD.

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Imelda Maseno
Analyst of «FreshForex» company
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