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Wait for retracements towards 110.98 to buy Usd

Wait for retracements towards 110.98 to buy Usd | 19 September 2017

19 September 2017, USD/JPY

Wait for retracements towards 110.98 to buy Usd
Techninical Observation
Yesterday, Usd gaped above the 4 hour resistance line 110.98, but is yet to pullback to this line, I'm patiently waiting for a pullback to this line to pick a long position with my take profit fixed at 112.85. As it is, Usd is very bullish and only long positions can be recommended especially while the price is still above 110.98, if this support is breached to the lower side with a big red candle, then a drop towards 109.95 will be the next ideal move. My advice, wait for a bearish retracement towards 10.98 to buy Usd towards 112.85
Technical levels:
Resistance levels
R1: 111.33
R2: 111.83
R3: 112.82
Pivot
110.84
Support Levels
S1: 108.85
S2: 109.85
S3: 110.34
Trade Signal
Wait for retracements towards 110.98 to buy Usd towards 112.85.

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Imelda Maseno
Analyst of «FreshForex» company
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