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Long USD towards 113.86

Long USD towards 113.86 | 04 May 2017

04 May 2017, USD/JPY

Long USD towards 113.86
Technical Observation:
On may 3rd, USD broke out above the resistance zone112.32-112..25, pullback to the just broken zone before continuing long. This pair is trading above it's daily pivot level 112.48 and unless there's a clean bearish breach below this pivot, this pair should trade on the higher ranges. On the Hourly chart above, I expect a breakout above 112.82 to push the price further upwards. My advice, unless there's a clean breach below the daily pivot, look for long positions
Technical levels:
Resistance levels
R1: 112.96
R2: 113.26
R3: 114.03
Pivot Point
112.48
Support Levels
S1: 110.93
S2: 111.71
S3: 112.19
Trade Signal
Long USD towards 113.86

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Imelda Maseno
Analyst of «FreshForex» company
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