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Long Usd towards 118.57

Long Usd towards 118.57 | 06 July 2017

06 July 2017, USD/JPY

Technical Observation

Since June 16th, Usd has remained confined above the exponential moving averages, 23, 35, 56, and could continue rising. Unless the 56th Exponential moving average is clearly broken to the lower side , I expect a move upwards with my take profit at 118.57. On the 4hour chart above, long positions seems more ideal compared to the short positions, thus, at the moment I'm only interested in short positions.
Technical levels:
Resistance levels
R1: 113.51
R2: 113.71
R3: 114.3
Pivot
113.134
Support Levels
S1: 111.96
S2: 112.54
S3: 112.93

Trade Signal

Long Usd towards 118.57

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Imelda Maseno
Analyst of «FreshForex» company
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