Pullbacks | 04 Julio 2017

04 Julio 2017, USD/JPY

Pullbacks

Technical Observation

After the second retracement towards 111.85, Usd rose almost 163pips but failed to get to my Take profit set at 113.69. The downward rally observed few hours ago is a pullback and should be short-lived. On the 4 hour chart above, I still expect a rise towards the short resistance line 113.69. If 113.69 is clearly broken, then I expect a rise upwards towards 115.00.

Technical levels:
Resistance levels
R1: 113.71
R2: 114.1
R3: 115.12
Pivot
113.08
Support Levels
S1: 111.04
S2: 112.06
S3: 112.69
Trade Signal
Pulling back

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Imelda Maseno
Analyst of «FreshForex» company
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