Long Usd towards 118.57 | 06 July 2017
06 July 2017, USD/JPY
Technical Observation
Since June 16th, Usd has remained confined above the exponential moving averages, 23, 35, 56, and could continue rising. Unless the 56th Exponential moving average is clearly broken to the lower side , I expect a move upwards with my take profit at 118.57. On the 4hour chart above, long positions seems more ideal compared to the short positions, thus, at the moment I'm only interested in short positions.
Technical levels:
Resistance levels
R1: 113.51R2: 113.71
R3: 114.3
Pivot
113.134
Support Levels
S1: 111.96S2: 112.54
S3: 112.93
Trade Signal
Long Usd towards 118.57
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
