Technical analysis of USD/JPY for May 16, 2018 888011000 110888 All our benefit targets which we anticipated in our previous analysis have actually been hit. The set keeps trading on the benefit targeting the overhead resistance at 110.45( around the high of yesterday, Might 15 ). Intraday bullishness is kept by those well-directed technical indications, consisting of the 20-period, 50-period moving averages and the relative strength index. Upon crossing 110.45, the next benefit target at 110.70 would enter sight. The trailing essential support has actually been raised to the psychologically significant level of 109.80, losing which would call for a further decrease towards 109.60. Chart Description: The black line reveals the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point suggests a short position. The red lines reveal the support levels, and the green lineshows the resistance levels. These levels can be used to get in andleave trades.Strategy: BUY, stop loss at 109.80, take profit at 110.45. Resistance levels: 110.45, 110.70, and 111.00 Assistance levels: 109.60, 109.40, and 109.00 . The product has actually been provided by InstaForex Company-www.instaforex.com

By | May 16, 2018

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