pending buy limit order around 110.98 | 20 September 2017

20 September 2017, USD/JPY

pending buy limit order around 110.98
Technical Observation:
Usd continues to rally to the lower side but is yet to reach may Buy line 110.98. Today, I expect a decline towards 110.98 to pick a long position with my take profit still intact at 112.85. If you haven't gone long already, you had better place a pending buy limit order around 110.98, with your stop loss below the recent lowest low and your tark profit at 11.85. On the way upwards, a key resistance line can be seen around 112.19, and 112.85. If these two are broken, then a sharp rise towards 118.00 will be the next ideal move.
Technical levels:
Resistance levels
R1: 111.33
R2: 111.83
R3: 112.82
Pivot
111.52
Support Levels
S1: 108.85
S2: 109.85
S3: 110.34
Trade Signal
Place a pending buy limit order around 110.98 with your take profit at 112.85

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Imelda Maseno
Analyst of «FreshForex» company
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