Sell Usd around 114.41 | 02 November 2017
02 November 2017, USD/JPY
Technical Observation:
Price is still rallying around 114.41, but still below it. I'm waiting for a clear rejection signal from this line to short Usd with my take profit fixed at 108.40. If the price can breakout above 114.41, then I'll wait for a retracement to the just broken line to pick a long position with my take profit fixed at the resistance line 118.00. A breakout above this resistance, then further rise towards 123.40 is expected. As it is on the 4 hour chart above, I'm only interested in a short position towards 108.40
Technical Levels
Resistance levels
R1: 113.61
R2: 114.06
R3: 114.8
Pivot
113.35
Support Levels
S1: 111.83
S2: 112.57
S3: 112.87
Trade Signal
Sell Usd around 114.41 with your take profit at 108.40
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.
