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Remain short towards 108.26

Remain short towards 108.26 | 31 October 2017

31 October 2017, USD/JPY

Technical Observation:
Usd is currently trading slightly below it's daily pivot line 113.32. This is a bearish dominance signal, and unless the price clearly breaks above this pivot line and most importantly above 114.30, I expect a drop in price towards 108.26 or even lower. On the way downwards, the key lines to look for include 112.87, 112.57 and lastly 111.83. A break below these lines will push the price lower to 110.00. If the price should rise above 114.30, then further rise towards 118.45 is expected
Technical Levels
Resistance levels
R1: 113.61
R2: 114.06
R3: 114.8
Pivot
113.32
Support Levels
S1: 111.83
S2: 112.57
S3: 112.87
Trade Signal
Remain short towards 108.26

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Imelda Maseno
Analyst of «FreshForex» company
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