Long towards 112.09 | 31 August 2017

31 August 2017, USD/JPY

Technical Observation
Usd Continues to rise according to the previous analysis. Earlier today, Usd broke above 110.35. If the price can safely close above this line by the end of this week, this will be a confirmation that Usd is rising even further during the coming week. On the way upwards, the first key line is being breached around 110.35, then next key lines to be checked include 110.82, and 112.09. If these lines can be broken, then the price could rise even further to the upper side towards 118.00. On the contrary, if the price can close below 108.06, then a rally towards 103 will be the most ideal.
Technical levels:
Resistance levels
R1: 109.77
R2: 109.96
R3: 110.5
Pivot
110.42
Support Levels
S1: 108.34
S2: 108.88
S3: 109.23
Trade Signal
Long towards 112.09

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Imelda Maseno
Analyst of «FreshForex» company
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