USD JPY Technical Analysis Aug 16, 2019
USD JPY Technical Analysis: The USD rose 0.20% against the JPY on Thursday and closed at 105.89. Today in the European session while USD JPY technical Analysis Aug 16, 2019 is preparing at 7:15 GMT, the USD/JPY trading at 106.35, which is 0.43% higher against JPY from yesterday’s close.
The pair is expected to find support at 105.61. And a fall through could take it to the next support level of 105.11. The pair is expected to find its first resistance at 106.70, and a rise through could take it to the next resistance level of 107.27. For today the expected trading range is between 105.11, Support and 106.70 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 105.61, Support 2: 105.11, Support 3: 104.34
Resistance Levels: Resistance 1: 106.70, Resistance 2: 107.27, Resistance 3: 107.77
USD/JPY Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 105.61 and 105.11 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 Aug 16, 2019
Sell near the resistance area 106.70 and 107.27 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.