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Remain long towards 112.03

Remain long towards 112.03 | 13 September 2017

13 September 2017, USD/JPY

Remain long towards 112.03
Technical Observation
After failing to sustain the breakout below 108.18, Usd pulled back above this line, and is still rallying within this zone. From this turn of events, Usd could rise even further towards the upper trend line or even break above it. On the way upwards, the key lines to check for include 111.90, 112.03, and 112.40. If these lines are clearly broken, then a rise towards 118.00 will be the next ideal move. At the moment, I choose to remain long towards the upper trend line. I may only consider a short position on breakout below 108.18, or if the price is rejected from the just stated lines.
Technical levels:
Resistance levels
R1: 110.17
R2: 110.22
R3: 110.32
Pivot
110.11
Support Levels
S1: 109.89
S2: 110
S3: 110.06
Trade Signal
Remain long towards 112.03

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Imelda Maseno
Analyst of «FreshForex» company
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