USD JPY Technical Analysis 16 October 2019
USD JPY Technical Analysis: The USD rose 0.43% against the JPY on Tuesday and closed at 108.82. Today in the European session while USD JPY technical Analysis 16 October 2019 is preparing at 7:15 GMT, the USD/JPY trading at 108.70, which is 0.11% lower against JPY from yesterday’s close.
The pair is expected to find support at 106.36. And a fall through could take it to the next support level of 107.88. The pair is expected to find its first resistance at 109.10, and a rise through could take it to the next resistance level of 109.37. For today the expected trading range is between 108.36, Support and 109.37 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 108.36, Support 2: 107.88, Support 3: 107.62
Resistance Levels: Resistance 1: 109.10, Resistance 2: 109.37, Resistance 3: 109.85
USD/JPY Buying Opportunity for Intraday Trading 16 October 2019
Buy near the support area 108.36 and 107.88 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
USD/JPY Selling Opportunity for Intraday Trading 16 October 2019
Sell near the resistance area 109.10 and 109.37 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.