USDJPY – Down Technical Observation: Earlier today, Usd plummet in value and should continue for the better parts of this day. The previous day’s candle is a bearish candle and could signal a continuation of the previous day’s bearish come back towards 108.37. On the way downwards, the key lines to look for include 111.35, 110.10, and 109.15. If these lines are breached, then a decline towards 108.37 is expected. As it is on the daily chart above, only a short position can be advised but with a take profit fixed at 108.37 and stop loss above the previous day’s highest high. Technical Levels Resistance levels R1: 114.92 R2: 116.15 R3: 118.95 Pivot 113.23 Support Levels S1: 107.74 S2: 110.56 S3: 112.18 Trade Signal Short Usd now with your take profit at 108.35
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