look for a buy signal towards 118.00 | 12 October 2017
12 October 2017, USD/JPY
Technical Observation:
For the second time, Usd dropped below the hour support line 112.22 but ended up above it by the close of the day. The previous two day's candle are a strong bullish pin bar and indicates that buyers could be prepared to continue long, thus, today, I'm waiting for a clear buy signal around 112.32, with my target at 113.20 or even higher to the daily resistance line 118.00.
Technical Levels
Resistance levels
R1: 112.98
R2: 113.17
R3: 113.64
Pivot
112.72
Support Levels
S1: 111.75
S2: 112.22
S3: 112.51
Trade Signal
look for a buy signal towards 118.00
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.
