Bulls are charged | 30 August 2017
30 August 2017, USD/JPY
Technical Observation:
According to the weekly chart, Usd is currently rallying above it's weekly pivot line 109.271. After being supported by the weekly support 108.06, Usd rallied higher and the current weekly candle is showing signs it could engulf the previous week's candles. If this should be the case, then a rally towards the upper trend line will be the next ideal move. On the way upwards, a key resistance can be seen around 110.13, if this line is breached, then the price will rally further upwards towards the upper trend line and could rise further towards 118.00.
Technical levels:
Resistance levels
R3111.120
R2110.483
R1109.908
Pivot
109.271
Support Levels
S1108.696
S2108.059
S3107.484
Trade Signal
Remain long 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.
