24 November 2017, USD/JPY
Technical Observation:
After a sharp decline in price seen on Wednesday, Usd is still reluctant to continue short. Today, I expect a decline in price towards 110.30 or even lower towards 108.41. As it is on the daily chart above, only a short position can be recommended with a take profit fixed at 108.41. On the way downwards, the key lines to look for include 110.30, 109.40 and 108.41. A break below these lines will push the price lower with the next take profit at 107.15 or even lower to 105.00.
Technical Levels
Resistance levels
R1: 111.92
R1: 112.63
R3: 113.73
Pivot
111.53
Support Levels
S1: 109.34
S2: 110.43
S3: 110.82
Trade Signal
Still short with the first take profit at 110.30 and the next at 108.41.