Long temporarily. | 18 October 2017
18 October 2017, USD/JPY
Technical Observation:
Usd is still rallying above 111.67. Unless the price breaks clearly below this support line, I expect a rally to the upper side but should not go beyond 112.85, where I'll be looking for a sell position. If the price breaks below 111.67, then the price will continue downward towards the daily support seen at 108.13. On the way downwards, key lines can be seen at 110.65, 110.30, and ultimately 108.11. If the price should go beyond these lines, then further bearish momentum towards 106.00 is expected.
Technical Levels
Resistance levels
R1: 112.56
R2: 113.27
R3: 114.4
Pivot
112.12
Support Levels
S1: 109.83
S2: 110.98
S3: 111.42
Trade Signal
Long temporarily.
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.
