USD still long towards 117.01 | 15 May 2017

15 May 2017, USD/JPY

USD still long towards 117.01
Technical Observation
On the weekly chart above, I expect further rise to the upper side and a possible breakout above 114.90. On the contrary, any bearish breach below 108.58 will push the price to the lower side towards 101.14. On the weekly chart above, I expect a positive rise to the upper side the entire week, thus, I'll remain bullish bias temporarily. In the meantime, I expect a retracement towards 111.17 to long USD at the ultimate least risk.
Technical levels:
Resistance levels
R1: 113.26
R2: 113.39
R3: 113.98
Pivot Point
112.68
Support Levels
S1: 111.83
S2: 111.96
S3: 112.55
Trade Signal
USD still long towards 117.01

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Imelda Maseno
Analyst of «FreshForex» company
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