Go long towards 109.68 | 21 April 2017

21 April 2017, USD/JPY

Go long towards 109.68
Technical Observation:
Recently, US Dollar successfully broke above 109. and has just retraced to the just broken retracement equilibrium zone. From the 4 Hour point of view, a long position is imminent. My advice therefore, go long but have your ST below the recent lowest low, 108.65 and a TP at 109.68. This view is only valid on the 4 Hour chart; the daily chart, however, paints a different picture indicating; we may be going long in the long run that the current upward move is a pullback.
Technical levels:
Resistance levels
R1: 109.68
R2: 109.97
R3: 110.74
Pivot Point
109.2
Support Levels
S1: 107.66
S2: 108.43
S3: 108.91
Trade Signal
Long USD towards 109.68

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Login
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .