Sell Usd on a rejection from 114.00 towards 111.55 | 25 October 2017
25 October 2017, USD/JPY
Technical Observation:
After a rising consistently for more than fortnight, Usd is currently rallying around a key resistance line 114.03. This is a major daily resistance line, and unless the price is clearly above it, I expect a rejection from this line to short Usd with my take profit at 108.25. If this resistance is broken, then a rise towards 118.00 is expected. As it is, only a sell position can be recommended with a take profit at 111.55. If you are bit hesitant, you could wait for a buy position after a breakout above this line
Technical Levels
Resistance levels
R1: 112.56
R2: 113.27
R3: 114.41
Pivot
114.00
Support Levels
S1: 109.83
S2: 110.98
S3: 111.42
Trade Signal
Sell Usd on a rejection from 114.00 towards 111.55
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.
