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Long USD towards 112.02.

Long USD towards 112.02. | 20 June 2017

20 June 2017, USD/JPY

Long USD towards 112.02.
Technical Observation
According to the previous forecast, USD rose almost 110 pips following a rejection from 110.63 and could still rise given the fact that my take profit line 112.02 has not been touched. On the 4 Hour chart above, I expect a rise towards 112.02 and even a breakout. If this is the case, then I'll wait for a retracement to the just broken zone to long USD towards 113.75. A rejection from 112.02 will mean waiting for a confirmation then a short positions towards 110.63.
Technical levels:
Resistance levels
R1: 111.81
R2: 112.05
R3: 112.74
Pivot Point
111.36
Support Levels
S1: 109.98
S2: 110.67
S3: 111.12
Trade Signal
Long towards 112.02.

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Imelda Maseno
Analyst of «FreshForex» company
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