USDJPY – Down
Technical observation
On the daily chart above, USDJPY corrected to a resistance line 109.56 and is currently around it.Im looking to sell it now with my take profit at 107.68 and stop loss around 110.27.Right now according to the chart above I can only recommend short positions. In case price breaks above 109.56 with a big green candle, wait for a correction to it to before you enter long positions, but only buy after the second correction to the broken line just to ensure it is not a false breakout with your take profit at 111.29, if this take profit is breached, remain long with USD.Right now sell USDJPY with your take profit at 107.68.
Technical levels
Resistance levels
R1.109.64
R2.110.1
R3.110.92
Pivot
109.28
Support levels
S1.108.82
S2.108.47
S3.107.65
Trade signal
Short USDJPY now with your take profit at 107.68 and stop loss around 110.27.
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