Technical analysis of USD/JPY for March 07, 2018 888011000 110888 SD/JPY is anticipated to trade with a bearish outlook. The downward predisposition prevails. The pair has actually plunged to the levels below the lower Bollinger band, requiring velocity to the downside. Strong downward momentum is likewise proved by the relative strength index, which has breached the oversold level of 30. Intraday bearishness continues and the set is expected to return to 105.30 on the downside(around a cost base seen in March 2-5) prior to sinking further toward 105.00. Just a break above the key resistance at 106.10 would bring about a bullish turnaround. Alternatively, if the price relocations in the opposite instructions, a long position is recommended to be above 106.10 with a target of 106.45. Chart Description: The black line shows the pivot point. The current rate above the pivot point indicates a bullish position, while the rate below the pivot point is a signal for a brief position. The red lines reveal the support levels, and the green lineshows the resistance level. These levels can be used to enter andexit trades.Strategy: OFFER, stop loss at 106.10, take revenue at 105.30. Resistance levels : 106.45, 106.80, and 107.15 Assistance levels: 105.30, 105.00, and 104.60. The material has actually been provided by InstaForex Business

By | March 7, 2018

Leave a Reply

Your email address will not be published. Required fields are marked *