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Long temporarily.

Long temporarily. | 18 October 2017

18 October 2017, USD/JPY

Long temporarily.

Technical Observation:

Usd is still rallying above 111.67. Unless the price breaks clearly below this support line, I expect a rally to the upper side but should not go beyond 112.85, where I'll be looking for a sell position. If the price breaks below 111.67, then the price will continue downward towards the daily support seen at 108.13. On the way downwards, key lines can be seen at 110.65, 110.30, and ultimately 108.11. If the price should go beyond these lines, then further bearish momentum towards 106.00 is expected.

Technical Levels

Resistance levels

R1: 112.56

R2: 113.27

R3: 114.4

Pivot

112.12

Support Levels

S1: 109.83

S2: 110.98

S3: 111.42

Trade Signal

Long temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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