25 September 2018, USD/JPY
Technical observation
On the daily chart, USD/JPY went above a resistance zone 111.76-111.53 with a big green candle, price then pulled back to it before rallying up and currently it is still rising towards the key line 114.14.If you picked long positions within the above mentioned zone, remain long with your ideal target at 114.14,If you had not traded this pair yet, wait for a correction to 111.76-111.53 then pick long positions within it with your take profit at 114.14 and stop loss slightly below 111.53.Shoukd there be a breach above 114.14,wait for a correction to it to confirm further bullish momentum before you continue long with USD.
Technical levels
Resistance levels
R1.112.78
R2.113.02
R3.113.4
Pivot
112.64
Support levels
S1.112.4
S2.112.26
S3.111.89
Trade signal
Remain long.
Do you know against which currencies JPY is the most profitable?More trading assets here...