Remain flat | 27 Juni 2018

27 Juni 2018, USD/JPY

Remain flat

Technical observation

On the daily chart above,USD/JPY has been trading on a downwards trend with retracements at the resistance zone 111.21-111.02,currently price is rallying between the zone and a support 109.03.I expect either a retracement to the it or a decline in price towards 109.03 and a breakout below it.In case of a correction to 111.21-111.02,short the pair within it with your ideal target at 109.03 and stop loss slightly above 111.21 and in case of decline towards 109.03 and a breakout below it, wait for a correction to it to confirm bearish movement of price before you short USD with your ideal target at 107.34.Right now remain flat.

Technical levels

Resistance levels

R1.110.07

R2.110.4

R3.111.08

Pivot

109.74

Support levels

S1.109.39

S2.109.04

S3.108.35

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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