Technical analysis of USD/JPY for August 11, 2017 888011000 110888 All our targets, which we forecasted in the other day’s analysis, have been hit. USD/JPY is still under pressure and expected to continue the disadvantage motion. The pair is trading below its declining 20-period and 50-period moving averages, which play resistance rolesand keep the disadvantage bias. The relative strength index is capped by a bearish pattern line because August 4. As long as 109.50is not gone beyond, look for a more decline to 108.60 and even to 108.60 in extension. Additionally, if the price relocations in the opposite instructions,a long position is advised above 109.50 with a target at 109.85. Chart Description: The black line reveals the pivot point. The current rate above the pivot point indicates a bullish position, while the price listed below the pivot point is a signal for a short position. The red lines show the assistance levels and the green lineshows the resistance level. These levels can be used toexit and go into trades.Strategy: SELL, Stop Loss: 109.50, Take Revenue: 108.60 Resistance levels : 109.85, 110.15, and 110.55 Support Levels: 108.60, 108.20, 107.65 The material has been provided by InstaForex

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