Long USD towards 112.11 | 01 May 2017

01 May 2017, USD/JPY

Long USD towards 112.11
Technical Observation:
Recently, USD broke above the resistance zone 111.58-111.60 and is currently still above it. The break above this zone signify a break above the daily pivot 111.45. Therefore, unless there's a clear break below this daily pivot, this pair should trade on the higher ranges probably towards 113. In the meantime, I'm waiting for retracements to the just broken line 111.60 to re-buy with my SL below 110.81 and TP at 112.11.
Technical levels:
Resistance levels
R1: 111.78
R2: 111.82
R3: 111.95
Pivot Point
111.7
Support Levels
S1: 111.45
S2: 111.58
S3: 111.66
Trade Signal
Long USD towards 112.11

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Imelda Maseno
Analyst of «FreshForex» company
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