22 Juni 2018, USD/JPY
Technical observation
USD/JPY is still on a downward movement, yesterday’s candle was bearish, it went down but did not reach the support level 109.03.I expect a correction of price to 111.21-111.02 followed by a rejection of it within the zone for possible bearish momentum towards 109.03.In case it does not pullback to 111.21-111.02 and instead rallies down towards 109.03,short term traders can wait for a rejection of it at 109.03 to long USD towards 111.02,while long term traders would wait for a breakout below 109.03 followed by a correction to it to short USD towards 107.34.Right now remain flat .
Technical levels
Resistance levels
R1.110.65
R2.110.76
R3.111
Pivot
110.53
Support levels
S1.110.41
S2.110.27
S3.110.03
Trade signal
Remain flat.
101% Double the volume