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Short USD towards 109.73.

Short USD towards 109.73. | 01 June 2017

01 June 2017, USD/JPY

Short USD towards 109.73.
Technical Observation
Recently, there was a false breakout when USD rose above 111.60 but ended up below it just a few hours following this false breakout. As long as the price remains below the line 111.60, I expect a decline of price towards 109.73. On the 4 Hour chart above, sell positions look more ideal towards 109.73. Buy positions can only be reconsidered upon a confirmed breakout above 111.60 towards 1113.78. My advice, look for sell positions towards 109.73/
Technical levels:
Resistance levels
R1: 111.13
R2: 111.42
R3: 112.02
Pivot Point
110.81
Support Levels
S1: 109.59
S2: 110.2
S3: 110.52
Trade Signal
Short USD towards 109.73.

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Imelda Maseno
Analyst of «FreshForex» company
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