Short Usd around 111.78 towards 107.50 | 26 September 2017
26 September 2017, USD/JPY
Technical Observation
After a drastic drop around 16:00, Usd is recovering upwards but not with the same momentum with which it fell. I expect this recovery to be a retracement move towards 111.78 where I expect a fresh drop towards the 4 hour support line 110.60. As it is, I can only recommend sell positions towards 110.60, if this support is broken, then the price could drop towards 107.50. On the way downwards key support lines can be seen around 111.35, 110.18 and 109.28. If these lines are breached then a rally towards 107.50 is confirmed.
Technical levels:
Resistance levels
R1: 112.21
R2: 112.71
R3: 113.57
Pivot
111.85
Support Levels
S1: 110.12
S2: 110.98
S3: 111.35
Trade Signal
Short Usd around 111.78 towards 107.50
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.
