USD JPY Technical Analysis January 31, 2019
The USD declined 0.33% against the JPY on Wednesday and closed at 109.00. Today in the European session while USD JPY technical analysis January 31, 2019 is preparing at 9:15 GMT, the USD/JPY trading at 108.70, which is 0.27% lower against JPY from yesterday’s close.
The pair is expected to find support at 108.25. And a fall through could take it to the next support level of 107.70. The pair is expected to find its first resistance at 109.57, and a rise through could take it to the next resistance level of 110.12. For today the expected trading range is between 108.25, Support and 109.18 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 108.63 Support 2: 108.25 Support 3: 107.70
Resistance Levels: Resistance 1: 109.57 Resistance 2: 110.12 Resistance 3: 110.50
USD/JPY Buying Opportunity for Intraday Trading January 31, 2019
Buy near the support area 108.25 and 107.70 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
USD/JPY Selling Opportunity for Intraday Trading January 31, 2019
Sell near the resistance area 109.57 and 110.12 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.