Buy Usd above 112.44 towards 118.00 | 27 September 2017

27 September 2017, USD/JPY

Buy Usd above 112.44 towards 118.00
Technical Observation
From the highs of 112.73, Usd retraced slightly to the lower side but has recovered almost 100% the value it lost during this retracement. This is a sign bulls could soon be in control, however, as it is, the line 112.44 is a key resistance line both on the 4 hours, and the daily charts, thus, unless it is clearly breached, the price could get rejected from this line. If its broken, then the price could rise towards 118.00. My advice, wait for a breakout above 112.44, then a pullback to the just broken line to buy usd towards 118.00.
Technical levels:
Resistance levels
R1: 112.65
R2: 113.06
R3: 114.04
Pivot
112.07
Support Levels
S1: 110.1
S2: 111.09
S3: 111.67
Trade Signal
Buy Usd above 112.44 towards 118.00

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Imelda Maseno
Analyst of «FreshForex» company
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