Bulls dominating | 21 Diciembre 2017

21 Diciembre 2017, USD/JPY

Bulls dominating

Technical Observation:
Recently, the short term support line 112.10 held true as a key support. Following the bounce from this support Usd has been rallying upwards and still has charge to to the upper side. I expect a rise towards 114.13 which is a key daily resistance line. If the price breaks above this resistance, then I expect further rise towards 121.00 or higher. As it is on the daily chart, only a buy position can be advised, on the other side, a rejection from 114.13 or e breakout below 112.10 will call for a short position towards 108.41.
Technical Levels
Resistance levels
R1: 114.04
R2: 114.62
R3: 116.22
Pivot
113.52
Support Levels
S1: 109.82
S2: 111.42
S3: 112.44
Trade Signal
Long now 112.15 towards 114.13

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Imelda Maseno
Analyst of «FreshForex» company
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