25 July 2017, USD/JPY
Technical Observation:
Following the breakout below the support line 111.34, Usd retraced back to it earlier today but got contained below it. I went short following the rejection from this now resistance line and is still holding onto this position. If you didn't short Usd around 111.34, wait for a second pullback to this line to re-sell usd. On the 4 hour chart above, short positions looks more ideal and can be recommended unless 111.34 is clearly breached to the upper side with a big green candle. Ideally, I expect a decline towards 110.56 and could break even lower towards 106.13.
Technical levels:
Resistance levels
R1: 113.65