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Wait for a pullback towards 112.88

Wait for a pullback towards 112.88 | 05 January 2018

05 January 2018, USD/JPY

Wait for a pullback towards 112.88
Technical Observation:
Earlier today, a clear breakout was seen when the price broke out above the resistance zone 112.88-112.95 and is still above it, Unless there's a clear breakout below 112.88 with a similar but opposite red candle, I expect a momentum towards 114.70. On the way upwards, the key lines to look for include 113.40, 113.70 and 114.30. A breakout above these lines will push the price further upwards towards 118.00.
Technical Levels
Resistance levels
R1: 112.71
R2: 112.87
R3: 113.29
Pivot
112.45
Support Levels
S1: 111.61
S2: 112.03
S3: 112.29
Trade Signal
Wait for a pullback towards 112.88 to buy Usd towards 114.30

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Imelda Maseno
Analyst of «FreshForex» company
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