USD/JPY Ascending Trend Line Holds the Trend in Place

July 20, 2018 21:05

Source: Admiral Markets MT5 with MT5SE Add-on

The USD/JPY lost its ground above 113.00 after US president Trump's comments regarding rate hikes. Currently, the POC zone is 112.05-17. There is also an ascending trend line that is holding the trend in place and serves as the additional confluence. A bounce from the POC targets 112.77 and 113.07. Only above 113.20 we might see 113.60.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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