Flat | 08 August 2017

08 August 2017, USD/JPY

Technical Observation

Usd is still rallying around it's weekly opening price 110.70 and has not shown any signs of heading towards a particular direction. On the weekly chart above, I'll only pick a short position on a breakout below 110.28, and most importantly on a breakout below the lower trend line, if this trend line is broken, then I expect further decline towards 106.13, a rejection from the immediate trend line will push the price higher towards the upper trend line and could push the price upwards towards 115.14.

Technical levels:

Resistance levels

R3: 112.399

R2: 111.726

R1: 111.189

Pivot

110.516

Support Levels

S1: 109.979

S2: 109.306

S3: 108.769

Trade Signal

Buy Usd in case of a clear rejection from the lower trendline towards 115.14

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .