23 Maret 2018, USD/JPY
Technical observation
Yesterday, price broke down below the line 105.52 as I predicted earlier and I expect a decline in price towards 102.85 and a breakout below it followed by a further decline in price towards 100.07.Right now I’m waiting for a retracement to 105.52 to sell USD with my take profit at 102.85 and stop loss around 106.12,if price goes below 102.85,wait for a correction to it then continue short with USD.In case of a breakout above the resistance zone (108.06-107.78) with a big green candle, wait for a pullback to it confirming bullish movement of price before you enter long positions towards the key line 114.33.
Technical levels
Resistance levels
R1.106.34
R2.106.64
R3.107.27
Pivot
106.07
Support levels
S1.105.71
S2.105.38
S3.104.74
Trade signal
Wait for a correction to 105.52 to sell USD with your take profit at 102.85 and stop loss around 106.12.