Flat | 20 October 2017
20 October 2017, USD/JPY
Technical Observation:
Yesterday, even after a breakout above 112.86, Usd pullback slightly to the lower side but ended up above 112.86 earlier today. This is an indication that the bulls are still left in this market. While the price is above 112.86, I'm only interested in a buy position, if the price should close below 112.86, then I may consider a short position towards 111.22, or even a breakout below to continue short towards 107.50. For intraday traders, buy positions are more ideal, but for day traders, wait for either a close above 112.86 or below 112.86.
Technical Levels
Resistance levels
R1: 112.56
R2: 113.27
R3: 114.41
Pivot
112.13
Support Levels
S1: 109.83
S2: 110.98
S3: 111.42
Trade Signal
Day traders should remain flat 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.
