USDJPY – Down
Technical observation
Yesterday, USD/JPY pulled back to the support zone 111.23-110.93, it was rejected and could not penetrate below it. Currently it is moving up and I expect a rise towards 113.62 and a possible breakout above it for a further rise in USD.Long the pair within the zone with your ideal target at 113.62 and stop loss slightly below 110.93, in case of a breakout above 113.62, wait for a correction to it before you continue long with USD. Short positions may only be recommended in case there’s a clear breach below 111.23-110.93 with a big red candle followed by correction to it.Right now, wait and long USD within 111.23-110.93.
Technical levels
Resistance levels
R1.112.24
R2.112.71
R3.113.93
Pivot
114.53
Support levels
S1.111.02
S2.110.27
S3.109.05
Trade signal
Buy USD/JPY within 111.23-110.93 towards 113.62.
Do you know against which currencies JPY is the most profitable?
More trading assets here…
You may check other analytical reviews on FreshForex website. Source: freshforex.com.