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Flat | 22 June 2017

22 June 2017, USD/JPY

Flat
Technical Observation
USD is trading below it's daily pivot line 111.41. Unless this pivot line is clearly breached to the upper side with a big green candle, I expect a decline in price towards the support line 111.63. Any breakout below this support line will mean waiting for a pullback to the just broken line to short USD towards 109.55. A rejection from 110.63 will call for long positions with a take profit not higher than 112.02. On the 4 hour chart, conservative traders can wait and buy USD around 110.63.
Technical levels:
Resistance levels
R1: 111.69
R2: 111.99
R3: 112.47
Pivot Point
111.41
Support Levels
S1: 110.54
S2: 111.02
S3: 111.22
Trade Signal

Wait and long USD around 110.63 towards 112.02

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Imelda Maseno
Analyst of «FreshForex» company
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