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Flat | 15 September 2017

15 September 2017, USD/JPY

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Technical Observation:
Recently, Usd spiked to the upper side thereby sending its tail towards the daily resistance line 110.90 but could not breakout above. This is a bearish signal, and unless there's a clear bullish breakout above this line, I'm patiently waiting for a clear rejection from this line to pick a short position with my take profit still intact at 102.64. If this resistance is broken to the upper side, especially with a big green candle, then the price could rise towards 112.83 or even higher towards 118.00. As it is, I'm waiting to sell Usd around 110.90 towards 102.64.
Technical levels:
Resistance levels
R1: 110.52
R2: 110.87
R3: 111.83
Pivot
109.91
Support Levels
S1: 107.98
S2: 108.94
S3: 109.55
Trade Signal
Short Usd around 110.90 with your take profit at 102.64.

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Imelda Maseno
Analyst of «FreshForex» company
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