Technical Analysis Based on Breakout – Flat
USDJPY – Down Technical Observation: Recently, Usd retraced a bit higher than I expected. Unless there’s a clear sell signal on Usd, I choose to remain flat on Usd. My expectations are that the price should continue to retrace higher towards 112.55 where there’s a potential supply. A breakout higher will push the price upwards towards 114.33 which a major daily resistance line. As it on the daily chart, I choose to remain flat, and only short Usd around 112.55 or at 114.33. The best place to pick a short is at the daily sell line 114.33. Technical Levels Resistance levels R1: 111.92 R1: 112.63 R3: 113.73 Pivot 111.80 Support Levels S1: 109.34 S2: 110.43 S3: 110.82 Trade Signal Flat
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