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Flat | 03 August 2017

03 August 2017, USD/JPY

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Technical Observations

Rather than continuing short. Usd pulled back upwards and may barely break below the short term support support line 110.28. Unless this support line is clearly broken to the lower side with a big red candle, Usd could rise further to the upper side probably towards the upper resistance trend line. If this trend line is broken, then the price could rise further towards the weekly resistance line 115.14. On the weekly chart above, buy positions still looks more lucrative, but if the price can break below the lower trend line, then this will be the best place to short Usd.

Technical levels:

Resistance levels

R1: 111.76

R2: 112.82
R3: 114.48
Pivot
111.15
Support Levels
S1: 107.83
S2: 109.49
S3: 110.1
Trade Signal
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Imelda Maseno
Analyst of «FreshForex» company
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