Technical analysis of USD/JPY for May 17, 2018 888011000 110888 All our benefit targets which we forecasted in previous analysis have actually been struck. The pair is still trading in a higher variety and anticipated to continue the upside motion. USD/JPY is continuing towards the overhead resistance at 111.00 while being supported by the rising 20-period moving average, which has simply crossed above the 50-period one. The level of 110.40 has proven a strong drawback assistance. The intraday setup stays bullish, and the pair needs to target 111.25 upon reaching 111.25. Chart Explanation: The black line shows the pivot point. The present price above the pivot point shows a bullish position, and the price below the pivot point suggests a brief position. The red lines show thesupport levels, and the green line suggests the resistance levels. These levels can be used to exit and go into trades.Strategy: BUY, stop loss at 110.40, take earnings at 111.00.Resistance levels: 111, 111.25, and 111.50 Support levels: 110.20, 110.00, and 109.60. The product has been supplied by InstaForex Company -www.instaforex.com

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