USDJPY – Down
Technical Observation:
For almost a fortnight now, Usd has been trading within a tight range, not going above 111.096 or below 108.578. While the price is still within this range, I’ll be looking to sell at 111.095 and buy at 108.578, and should the price breakout of these lines, then I’ll trigger a trade depending on the direction of the breakout, as it is on the daily chart, I expect a rise towards 111.096.
Technical Levels
Resistance levels
R1: 111.32
R2: 111.96
R3: 113.65
Pivot
110.26
Support Levels
S1: 106.88
S2: 108.57
S3: 109.63
Trade Signal
Still long towards 111.095
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