Long Usd towards 118.00 | 07 July 2017
07 July 2017, USD/JPY
Technical Observation
Recently, on June 15th Usd broke out above the three exponential moving averages, retraced back to the red moving average and is still being confined above them. Unless there's a clear breakout below the lower 56 Exponential moving average, I expect a move upwards. A break below the middle moving average will mean waiting for a break below the lower moving average (56) to short Usd towards 111.85. On the opposite I expect a rise towards 118.00 and may continue upwards.
Technical levels:
Resistance levels
R1: 113.43R2: 113.74
R3: 114.31
Pivot
113.16
Support Levels
S1: 112.02S2: 112.59
S3: 112.86
Trade Signal
Long Usd towards 118.00
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.
