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Buy Usd above 112.75 towards 113.65.

Buy Usd above 112.75 towards 113.65. | 04 January 2018

04 January 2018, USD/JPY

Buy Usd above 112.75 towards 113.65.
Technical Observation:
Earlier today, Usd bounced off from the lower supportive trend line and is currently rallying upwards. I'm waiting for a breakout above the short term resistance line 112.75 to confirm a bullish rally towards 113.65 or even higher. As it on the 4 hour chart above, a long position looks more ideal especially above 112.75. But should the price bounce off from 112.75, then i expect a decline towards the lower trend line. My advice, buy Usd above 112.75 towards 112.62
Technical Levels
Resistance levels
R1: 113.22
R2: 113.76
R3: 114.67
Pivot
112.85
Support Levels
S1: 111.02
S2: 111.93
S3: 112.31
Trade Signal
Buy Usd above 112.75 towards 113.65.

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Imelda Maseno
Analyst of «FreshForex» company
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