Technical analysis of USD/JPY for April 16, 2018 888011000 110888 USD/JPY is anticipated to trade with bearish outlook. The pair has actually returned to levels above both the 20-period and 50-period moving averages, however remains capped by the essential resistance at 107.65. On the other hand, the relative strength index has gone back to levels above the neutrality level of 50, suggesting that upward momentum could push the pairgreater. As long as the key resistance at 107.65 is not gone beyond, intraday bearishness persists, and the pair might draw back to 107.05 on the downside.Chart Description: The black line shows the pivot point. Today price above the pivot point suggests a bullish position, and the rate listed below the pivot point indicates a short position. The red lines reveal thesupport levels, and the green line indicates the resistance levels. These levels can be used to leave and go into trades.Strategy:SELL, stop loss at 107.65, take earnings at 107.05.Resistance levels: 107.80, 108, and 108.50 Support levels: 107.05, 106.80, and 106.50. The material has been supplied by InstaForex

By | April 16, 2018

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