Flat | 05 Diciembre 2017

05 Diciembre 2017, USD/JPY

Flat
Technical Observation:
Yesterday, Usd gaped higher but ended up closing around Friday's opening price. Since Friday, nothing has changed much, we're back to the same slot where we opened last Friday. I expect a rise towards the daily resistance line 114.00, and even a breakout above to continue long. This breakout is expected since the previous week's candle is a perfect bullish engulfing candle and could push the price to the upper side towards 118.00 or even higher to 123.00. As it is on the daily chart above, I choose to remain flat.
Technical Levels
Resistance levels
R1: 114.98
R2: 116.12
R3: 118.92
Pivot
112.50
Support Levels
S1: 107.7
S2: 110.51
S3: 112.17
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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