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Flat

Flat | 06 September 2017

06 September 2017, USD/JPY

Flat

Technical Observation:
Recently, Usd plummeted in price and is still showing signs it plummet even further, A key daily support can be seen around 108.77, if the price can safely breakout below this support line, then this will be a confirmation that price could drop further towards 102.74 or even lower. According to the daily chart above, its worth waiting for a clear breakout below 108.77, especially, a break below 108.11 to confirm this bearish price movements. My advice, remain flat temporarily and wait for breakout below 107.77 to confirm this bearish price movements towards 102.74
Technical levels:
Resistance levels
R3:110.517
R2:110.227
R1:109.963
Pivot
109.453
Support Levels
S1:109.409
S2:109.119
S3:108.855
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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