Look for a short position towards 112.33 | 09 October 2017
09 October 2017, USD/JPY
Technical Observation:
Recently, a false breakout was seen when the USD went above the hourly resistance line 113.14 but ended up closing below it. This is a bearish gesture and unless the price clearly close above 113.40, I expect Usd to drop towards the hourly support 112.3; should this support be broken, then the price could plummet even further towards the daily support 111.99. On the way downwards key support lines can be seen at 111.75, 112.22 and 112.29.
Technical Levels
Resistance levels
R1: 112.98
R2: 113.17
R3: 113.64
Pivot
112.7
Support Levels
S1: 111.75
S2: 112.22
S3: 112.51
Trade Signal
Look for a short position towards 112.33
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.
