FX.co ★ Technical analysis and trading recommendations for the currency pair USDJPY for July 19, 2017

On the four-hour chart, we can observe the active downward movement, where the quotation managed to reach the range support level of 111.70 / 112.00. Now, we see that within the price level remained, there is a formation of two-digit candles like "Doji". Probably assume that we will see the formation of a time range of 111,80 / 112,20, where the "bulls" will try to drag the cup to their side and as a fact, forming a corrective movement.

At the same time, traders should not take short positions out of attention, in case if the "bears" still manage to stay in the market, clearly fixing below the value of 111.70.

Key levels

Resistance zones: 113.00 *; 114.40; 115.50; 117.50.

Support zones: 110,90; 110.00 *; 108.80.

* Periodic level

Signals

- It is recommended to buy a pair at a price higher than 112.30, with a move to 113.00.

- Sales are recommended to be made after a clear fixation of the price below 111.70, with a move to 111.00 / 110.90.

Note: Forecasts are not a direct guide to action!

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