Look for buy positions | 10 Agosto 2017

10 Agosto 2017, USD/JPY

Look for buy positions

Technical Observation

Usd is still rallying above the lower support trend line and also below the short term key line 110.28. Unless there's a clear break below the previous day's lowest low 109.58 and also below the lower trend line, I expect a rejection from these two lines to long Usd towards the upper resistance trend line. A break below the lower trend line will mean waiting for a pullback to the just broken trend line to pick a short position with a take profit at the weekly support line 106.13. A break below this support will push the price further low towards 104.00.

Technical levels:

Resistance levels

R3: 112.399

R2: 111.726

R1: 111.189

Pivot

110.516

Support Levels

S1: 109.979

S2: 109.306

S3: 108.769

Trade Signal

Buy Usd around the previous day's lowest low 109.58 with a take profit along the upper trendline.

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Imelda Maseno
Analyst of «FreshForex» company
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