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

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Imelda Maseno
Analyst of «FreshForex» company
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