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Short USD now towards 108.85

Short USD now towards 108.85 | 18 May 2017

18 May 2017, USD/JPY

Short USD now towards 108.85
Technical Observation:
Recently, USD dropped almost 300 pips and could drop further. Unless there's a clear bullish breakout above 111.01, I expect a positive move to the lower side towards 109.55 and may extend lower. On the 4 Hour chart above, sell positions can be recommended but only only up to 108.85. A breakout below this support will push the price further downward. My advice, short USD now towards 108.85
Technical levels:
Resistance levels
R1: 113.3
R2: 114.2
R3: 115.58
Pivot Point
112.83
Support Levels
S1: 110.09
S2: 111.46
S3: 111.93
Trade Signal
Short USD now towards 108.85

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Imelda Maseno
Analyst of «FreshForex» company
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