Long Usd towards 115.14 | 15 August 2017
15 August 2017, USD/JPY
Technical Observations
Looked at from a different point of view, usd appears to have established a support along the lower support trend line. Unless this trend line is breached to the lower side with a big red candle, I expect a rise in price towards the upper resistance trend line. . A break above will push the price further upwards towards 115.14. If the lower support trend line is broken, then the price could fall further towards 106.13. 110.25 is a key line and will require a great amount of force to break above, thus, if the price can close above it, this will confirm a move towards 115.14.
Technical levels:
Resistance levels
R1: 111.592
R2: 111.211
R3: 110.619
Pivot
110.249
Support Levels
S1: 109.646
S2: 109.265
S3: 108.673
Trade Signal
Long Usd towards 115.14
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.
