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wait and sell Usd at 114.38

14 November 2017, USD/JPY

Technical Observation:
Usd is currently trading with a slowly increasing bullish momentum is still above a weekly pivot line 113.79. While the price is still above this pivot line, I expect a breakout above the daily resistance line 114.38 to long Usd with my take profit fixed at 118.65. If the price rises above this take profit then further rise towards 121.00 is expected. As it is, my advice is to wait and sell Usd at 114.38 with your take profit at 108.25.
Technical Levels
Resistance levels
R1: 114.48
R2: 115.43
R3: 117.08
Pivot
113.79
Support Levels
S1: 110.49
S2: 112.14
S3: 112.84
Trade Signal
wait and sell Usd at 114.38 towards 108.25

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Imelda Maseno
Analyst of «FreshForex» company
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