Remain short towards 108.26 | 31 October 2017
31 October 2017, USD/JPY
Technical Observation:
Usd is currently trading slightly below it's daily pivot line 113.32. This is a bearish dominance signal, and unless the price clearly breaks above this pivot line and most importantly above 114.30, I expect a drop in price towards 108.26 or even lower. On the way downwards, the key lines to look for include 112.87, 112.57 and lastly 111.83. A break below these lines will push the price lower to 110.00. If the price should rise above 114.30, then further rise towards 118.45 is expected
Technical Levels
Resistance levels
R1: 113.61
R2: 114.06
R3: 114.8
Pivot
113.32
Support Levels
S1: 111.83
S2: 112.57
S3: 112.87
Trade Signal
Remain short towards 108.26
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.
