Technical analysis of USD/JPY for February 01, 2018 888011000 110888 All our targets which forecasted in yesterday’s analysis have been struck. USD/JPY is expected to continue an upward motion. The set rebounded from the increasing 20-period moving average after a pullback from 109.10. The relative strength index has simply arrived on its neutrality level at 50 and is showing up. The drawback potential must be restricted by the key support at 108.95. As long as this key level is not broken, look for an additional increase with targets at 109.75 and 110 in extension. Alternatively, if the price moves in the opposite instructions, a Short position is recommended to be listed below 109.10 with a target of 108.85. Chart Explanation: The black line reveals the pivot point. The present price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position.The red lines show the assistance levels, and the green line indicates the resistance level. These levels can be usedto go into and exit trades.Strategy: BUY, stop loss at 109.10, take profit at 109.75. Resistance levels: 109.75, 110.10, and 110.50 Assistance levels: 108.85, 108.65, and 108.30. The material has actually been offered by InstaForex Business -www.instaforex.com

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