E Forex Analysis Of USD/JPY For Monday, August 13

First, we look into the previous day trade and what happened on August 10, 2018, and the USD/JPY pair opened at 110.073 and went high at 111.161 and gone low 110.502 and finally closed at 110.922. The calculated pivot point for the day is 110.861.

The difference between high and low was nearly 0.659 points and there was a very good chance for traders to take the opportunity between low to high levels and finally benefit.

The pair is going to a higher level from support levels. Today, traders should cautious since it reached the overbought region and should buy at support levels for more profits. Four-hour chart followers may consider to buy at 111.138, 112.481 and sell at 110.562, 109.790 levels.

LEVELS TO BE WATCHED FOR TRADERS FOR THEIR TRADING

Level

First Level

Second Level

Third Level

Selling Level

110.90

111.20

111.50

Buying Level

110.00

109.70