05 Juli 2018, USD/JPY
Technical observation
After the rejection from the resistance 111.21-110.92, the pair on the daily chart above is still declining steadily towards the support 109.03,I expect a breakout below it followed by a correction to it for bearish momentum towards 107.34.If you already sold the pair within 111.21-110.92,remain short towards 109.03 and in case of a breakout below it, wait for a correction to the broken line before you continue short with the pair. On the chart above, only short positions look ideal and can be recommended. Buy positions may only be recommended in case of a breach above 111.21 with a big green candle followed by a correction to it.
Technical levels
Resistance levels
R1.110.07
R2.110.4
R3.111.08
Pivot
109.76
Support levels
S1.109.39
S2.109.04
S3.108.36
Trade signal
Remain short towards 109.03.
101% Double the volume