Technical analysis of USD/JPY for April 18, 2018 888011000 110888 USD/JPY is expected to trade with a bullish outlook. the set continues a rebound initiated at a low of 106.87 seen overnight(April 17). Presently, it has returned to levels above both the 20-period and 50-period moving averages. At the exact same time, the relative strength index has jumped into the 60s, suggesting that upward momentum could assist produce a new upleg for the set. As long as the bullish predisposition is maintained, the pair is expected to revisit 106.85 on the advantage (around the high of yesterday )prior to targeting 107.40. Chart Explanation: The black line reveals the pivot point. Today cost above the pivot point suggests a bullish position, and the rate below the pivot point indicates a short position. The red lines show theassistance levels, and the green line suggests the resistance levels. These levels can be utilized to enter and leave trades.Strategy: BUY, stop loss at 106.85, take earnings at 107.40.Resistance levels: 107.40, 107.60, and 107.90 Support levels : 106.65, 106.45, and 106.00. The material has been supplied by InstaForex

By | April 18, 2018

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