USDJPY – Down

Buy USD within 111.23-110.93

Technical observation

USD/JPY broke above a key resistance zone 111.23-110.93 with a big green candle, price then went up before pulling back to the just broken zone, right now it is within it and I expect rejection of it from the zone for possible bullish momentum towards 113.64 and a breakout above it for a further rise in price. My advice, buy USD within 111.23-110.93 with your take profit at 113.64 and stop loss slightly below 110.93.In case of a breakout above 113.64 wait for a correction to it before you continue long with the pair. Short positions may only be recommended in case of a clear breakout below 110.93 with a big red candle.

Technical levels

Resistance levels

R1.111.06

R2.111.19

R3.111.43

Pivot

110.96

Support levels

S1.110.83

S2.110.72

S3.110.49

Trade signal

Buy USD within 111.23-110.93 with your take profit at 113.64 and stop loss slightly below 110.93.

Do you know against which currencies JPY is the most profitable?

Buy USD within 111.23-110.93

More trading assets here…

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

By admin