28 September 2018, USD/JPY
Technical observation
USD/JPY is still rallying above the zone 111.95-111.83.I expect a correction of price to it followed by a rejection of it within the above mentioned zone for possible bullish momentum towards 114.14.Wait for the correction to the zone then buy USD/JPY within it after a rejection within it with your take profit at 114.14 and stop loss slightly below 111.83.Should there be a clear breakout above 114.14, wait for a correction to it confirming further bullish momentum of price before you continue long with USD. Only long positions look ideal on the ideal on the daily chart an above and can be recommended within 111.95-111.83.
Technical levels
Resistance levels
R1.112.78
R2.113.02
R3.113.4
Pivot
112.68
Support levels
S1.112.4
S2.112.26
S3.111.89
Trade signal
Wait for a correction to 111.95-111.83 to buy USD/JPY.
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