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remain long towards 115.15

remain long towards 115.15 | 13 December 2017

13 December 2017, USD/JPY

remain long towards 115.15
Technical Observation:
Since the beginning of this week, nothing has changed much, Usd is still stagnating around Friday's closing price but is showing signs of rising. Unless there's a clear close below the short term support line 113.23, I expect a massive rise towards 115.15 and should breakout above towards 118.65. A rejection from around 114.50 will call for a short position with a take profit fixed at 108.70. As it is on the weekly chart above, only a long position looks more ideal towards the weekly resistance zone 114.34-115.15.
Technical Levels
Resistance levels
R1: 113.1
R2: 114
R3: 116.04
Pivot
113.97
Support Levels
S1: 107.9
S2: 109.94
S3: 111.06
Trade Signal
Remain long towards 115.15

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Imelda Maseno
Analyst of «FreshForex» company
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