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flat | 09 June 2017

09 June 2017, USD/JPY

flat

Technical Observation
The UK Elections results failed to trigger a major move in this pair. Rather, USD rose slightly upwards and could still be rising today. I expect further upward move towards the now resistance line 110.70 from where I've placed a ending sell limit. A clean breakout above this line may push the price further upwards. That said, unless this line is clearly breached to the upper side with a big green candle, I expect a rejection from this line to short USD towards 106.
Technical levels: Resistance levels R1: 110.42
R2: 110.91
R3: 111.92 Pivot Point 109.9 Support Levels S1: 107.88
S2: 108.89 S3: 109.41 Trade Signal Pullbacks

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Imelda Maseno
Analyst of «FreshForex» company
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