Looking to buy Usd | 09 August 2017
09 August 2017, USD/JPY
Technical Observation
Usd declined below the short term support line 110.38 but is facing a key support trend line. Unless the price clearly breach below this support trend line, I expect a rejection from this trend line to long Usd towards the upper resistance,if this trend line is broken, then the price could rise even further towards the weekly resistance line 115.14. A breakout below the support trend line will push the price to the lower side towards the weekly support line 106.13. The Line 110.28 is a key short term line and unless price close above, I expect a decline towards 106.13.
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
Look for buy places towards the upper trendline
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.
