10 August 2017, USD/JPY
Technical Observation
Usd is still rallying above the lower support trend line and also below the short term key line 110.28. Unless there's a clear break below the previous day's lowest low 109.58 and also below the lower trend line, I expect a rejection from these two lines to long Usd towards the upper resistance trend line. A break below the lower trend line will mean waiting for a pullback to the just broken trend line to pick a short position with a take profit at the weekly support line 106.13. A break below this support will push the price further low towards 104.00.
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 around the previous day's lowest low 109.58 with a take profit along the upper trendline.