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still some sellers left?

07 December 2017, USD/JPY

still some sellers left?
Technical Observation:
Last week's candle was a bullish engulfing candle and meant that the price was to rise but until now, bears still appears to have some strength left. I still expect a rise towards 114.10 and even a breakout above 114.82 to continue higher towards 118.00. As it is on the weekly chart above, only buy positions look more ideal, but if you're a skeptic to buy now, you could wait and buy above 114.82, or sell upon a rejection from 114.10-114.82 with you take profit at 108.61.
Technical Levels
Resistance levels
R1: 113.1
R2: 114
R3: 116.04
Pivot
111.97
Support Levels
S1: 107.9
S2: 109.94
S3: 111.06
Trade Signal
Look for a buy trade towards 114.10

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Imelda Maseno
Analyst of «FreshForex» company
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