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Short the Usd now with a takle profit at 108.49.

Short the Usd now with a takle profit at 108.49. | 14 December 2017

14 December 2017, USD/JPY

Short the Usd now with a takle profit at 108.49.

Technical Observation:

Yesterday, my stop loss was taken out when the price went below the support line 113.13. and is still rallying on the lower ranges. I expect further decline to the lower side and should breakout below 108.48. As it is on the daily chart. I'm still interested in short positions. On the way downwards, the key lines to look for include 111.00, 110.65 and 109.40. A breakout below these lines will push the price towards 108.48. On the other side, if the price should breakout above 114.26, then this will be the best place to buy the Usd.

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

Short the Usd now with a takle profit at 108.49.

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Imelda Maseno
Analyst of «FreshForex» company
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