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Flat

Flat | 25 September 2017

25 September 2017, USD/JPY

Flat

Technical Observation
After bouncing from the daily support line 108.11. Usd has been in a constant up trend buy is currently approaching a key resistance trend line. Unless there’s a clear breakout above this trend line, I waiting for a clear rejection from this trendline to pick a short position towards 108.11. If a breakout is seen, then the price could rise towards 118.00. On the way upwards key lines can be seen around 114.00 and 117.50. If these lines a breached then the price could rise towards 118.00. As it is, I remain flat and wait for a rejection from this trendline to pick a short position, or breakout above to pick a long position towards 118.00.
Technical levels:
Resistance levels
R1: 112.91
R2: 113.45
R3: 114.9
Pivot
112
Support Levels
S1: 109.09
S2: 110.54
S3: 111.46
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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