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Consider sell orders towards 109.73

Consider sell orders towards 109.73 | 26 May 2017

26 May 2017, USD/JPY

Technical Observation
Recently, a false breakout was seen when USD rose above 111.60 but has currently descended back below it. Unless this resistance line is clearly breached with a green big candle, I expect further decline towards the support line 109.73 and may break below towards 104. On the 4 Hour chart above, A bearish decline towards 109.73 seems more ideal. My advice, consider sell positions towards 109.73.
Technical levels:
Resistance levels
R1: 112
R2: 112.18
R3: 112.57
Pivot Point
111.78
Support Levels
S1: 110.99
S2: 111.38
S3: 111.61
Trade Signal
Consider sell orders towards 109.73

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Imelda Maseno
Analyst of «FreshForex» company
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