USD/JPY 108.28 - 18 February

USD/JPY Open 107.78 High 108.27 Low 107.27 Close 107.78

The currency couple is trading within the range of the first resistance and support levels, and the long consolidation continues. First resistance is 108.80, which is 75.8% correction of the drop 110.05 - 105.00, and which may also be difficult to overcome. Next resistance is the beginning af the above drop at 110.00, and 111.8. Support is the bottom from last Wednesday at 107.05, followed by the stable support at 105.90, before the many months bottom at 104.90.

Technical resistance levels: 108.80 110.00 111.80

Technical support levels: 107.05 105.90 104.90

Trading range: 108.40 - 107.75

Trend: Downward

Sell at 108.28 SL 108.58 TP 107.88

Already made +9 pips profit on USD/JPY today from the following signal:

8:42 GMT Sell USD/JPY at 108.06 SL 108.32 TP 107.56 exited at 8:51 GMT.

Total results today +88 pips, on Friday +178, as shown at www.zifx.com/performance.php