Flat | 06 November 2017
06 November 2017, USD/JPY
Technical Observation:
USD is still rallying within the resistance zone 113.97-114.26. This stagnation around this zone may mean the price is looking to edge even higher. Thus, if the price can give a clear buy signal, I would consider a long position. Furthermore the month chart is a bullish pin bar candle and will push the price to the upper side towards 118.00. As it is on the daily chart above, only a buy position can be recommended towards 118.00. If this resistance is broken, then the price may rise higher towards 121.00.
Technical Levels
Resistance levels
R1: 114.36
R2: 114.63
R3: 115.32
Pivot
113.95
Support Levels
S1: 112.58
S2: 113.26
S3: 113.67
Trade Signal
Flat
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.
