Buy Usd above 114.07 towards 118.25 | 26 Diciembre 2017

26 Diciembre 2017, USD/JPY

Buy Usd above 114.07 towards 118.25
Technical Observation:
Usd is currently trading slightly above it's monthly pivot line 112.73. This is a possible bullish dominance indication, and while the price is still above this pivot line, I expect a momentum to the upper side with my first take profit set at 114.07 and the next at 118.25. As is on the daily chart above, only a long position looks more ideal and can be advised. If you're not ready to long now, you could wait and buy usd upon a breakout above 114.07 with your take profit at 118.25.
Technical Levels
Resistance levels
R1: 114.09
R2: 114.52
R3: 116.12
Pivot
112.73
Support Levels
S1: 109.12
S2: 111.52
S3: 112.26
Trade Signal
Buy Usd above 114.07 towards 118.25

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Imelda Maseno
Analyst of «FreshForex» company
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