Technical analysis of USD/JPY for December 29, 2017 888011000 110888 All our disadvantage target which we predicted in yesterday’s analysis have been hit. Despite of recent rebound from 112.65(the low of December 28), the pair is still capped by a declining 50-period moving average. The relative strength index is below its neutrality level at 50. Despite the fact that an extension of the technical rebound can not be ruled out, its extent ought to be restricted. Toconclude, listed below 113.00, search for a more decrease with targets at 112.20 and 112.00 in extension. If the rate relocations in the opposite direction, a long position is advised above 113.00 with a target of 113.15. Chart Explanation: The black line reveals the pivot point. The current cost above the pivot point shows a bullish position, while the cost listed below the pivot point is a signal for a short position. The red lines reveal the support levels and the green linesuggests the resistance level. These levels can be utilized toget in and leave trades.Strategy: OFFER, Stop Loss: 113.00, Take Earnings: 112.20 Resistance levels : 113.15, 113.35 and 113.85 Support Levels: 112.20, 112.00, 111.70 The material has actually been supplied by InstaForex

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