Remain long towards | 11 September 2017
11 September 2017, USD/JPY
Technical Observation
Recently, Usd plunged below the daily support line 108.11 and is showing signs it could hold this break out below. This breakout is a clear bearish signal, and unless the price clearly rise above 108.11 with a big green candle, I'm waiting for a clear pullback to the just broken line to pick a short position towards 102.74. My expectations is that the price should continue to decline towards 101.00 and could go even lower. on the way downwards, the key support lines to check for includes 106.64, 105.16 and finally 102.74,
Technical levels:
Resistance levels
R1: 109.77
R2: 109.96
R3: 110.5
Pivot
107.21
Support Levels
S1: 108.34
S2: 108.88
S3: 109.23
Trade Signal
Remain short towards 102.74
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.
