Wait for a breakout below the support line 111.82 to short Usd towards 110.75 | 20 July 2017

Technical Observations

Dollar Yen Clocked a session low of 111.82 but got contained above it. I expect a break below this handle to continue short towards the 4 hour support line 110.75. On the 4 hour chart above, USDJPY traders had better wait for a breakout below support line 111.82 to grab short positions instead of looking for long positions. A key 4 hour resistance can be seen around the 4 hour resistance line 112.83, if the price should get rejected around 111.82, then the best place to short Usd should be here(112.83). A break above this line may push the price further upwards towards 115.00.

Technical levels:

Resistance levels

R1: 112.23