Flat | 06 September 2017
06 September 2017, USD/JPY
Technical Observation:
Recently, Usd plummeted in price and is still showing signs it plummet even further, A key daily support can be seen around 108.77, if the price can safely breakout below this support line, then this will be a confirmation that price could drop further towards 102.74 or even lower. According to the daily chart above, its worth waiting for a clear breakout below 108.77, especially, a break below 108.11 to confirm this bearish price movements. My advice, remain flat temporarily and wait for breakout below 107.77 to confirm this bearish price movements towards 102.74
Technical levels:
Resistance levels
R3:110.517
R2:110.227
R1:109.963
Pivot
109.453
Support Levels
S1:109.409
S2:109.119
S3:108.855
Trade Signal
Flat
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.
