short | 24 August 2017
24 August 2017, USD/JPY
Technical Observations
After breaking below the support line 109.23 in August the 23rd, Usd pulled back to this line twice but failed to penetrate above, I went short around 109.23 after the third retracement to this line and is still holding on to this position. My expectations is that price should fall lower towards the next support line 108.66, if this support is broken, then price could fall further towards 106.00. On the Hourly chart above, short positions still look more ideal and can be recommended especially around 109.23.
Technical levels:
Resistance levels
R3110.514
R2110.172
R1109.603
Pivot
109.261
Support Levels
S1108.692
S2108.350
S3107.781
Trade Signal
Remain short towards 108.66.
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.
