Look for long positions | 29 August 2017
29 August 2017, USD/JPY
Technical Observation:
Earlier this week, Usd rallied lower but is still confined above 108.84. Unless the price breaks below 108.84 and most importantly below 108.06, I expect a rejection from this lines to pick a long position towards the upper trend line. If the 108.06 is breached, then the price could fall further downwards towards 100.80. On the way upwards key lines to look for include 110.81, and 112.16 while on the way downwards the key lines to check for include 108.88 and 104.10. That said, unless 108.6 is broken, look for long positions towards the upper trend line.
Technical levels:
Resistance levels
R3111.120
R2110.483
R1109.908
Pivot
109.271
Support Levels
S1108.696
S2108.059
S3107.484
Trade Signal
While the price is above 108.06, look for long positions 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.
