short | 24 August 2017

24 August 2017, USD/JPY

short
Technical Observations
After breaking below the support line 109.23 in August the 23rd, Usd pulled back to this line twice but failed to penetrate above, I went short around 109.23 after the third retracement to this line and is still holding on to this position. My expectations is that price should fall lower towards the next support line 108.66, if this support is broken, then price could fall further towards 106.00. On the Hourly chart above, short positions still look more ideal and can be recommended especially around 109.23.
Technical levels:
Resistance levels
R3110.514
R2110.172
R1109.603
Pivot
109.261
Support Levels
S1108.692
S2108.350
S3107.781
Trade Signal
Remain short towards 108.66.

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus