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Short USD around 111.51 towards 109.73

Short USD around 111.51 towards 109.73 | 29 May 2017

29 May 2017, USD/JPY

Short USD around 111.51 towards 109.73
Technical Observation:
Recently USD entered into a possible bearish flag but broke out below it earlier the previous trading day. Today, I expect minor bullish retracements towards the bottom of this flag, that is 111.51, to resell USD towards 109.73. On the 4 Hour chart above, sell positions seems more ideal and can be recommended but only up to 109.73
Technical levels:
Resistance levels
R1:112.15
R2: 112.48
R3: 113.43
Pivot Point
111.49
Support Levels
S1: 109.62
S2: 110.58
S3: 111.19
Trade Signal
Short USD around 111.51 towards 109.73

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Imelda Maseno
Analyst of «FreshForex» company
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