Short Usd around 114.38 | 10 November 2017
10 November 2017, USD/JPY
Technical Observation:
Earlier this week, I went short around 114.38, and is still open in this position. My expectation is that the price should continue to plummet towards 111.95 or even lower. If you didn't go short based on the other day;s analysis, you could wait for a rise towards 114.38, then short Usd towards 107.95. On the other side, if the price breaks out above 114.38 with a big green candle, then further rise towards 123.3 is expected.
Technical Levels
Resistance levels
R1: 113.84
R2: 114.21
R3: 114.96
Pivot
113.48
Support Levels
S1: 111.97
S2: 112.72
S3: 113.09
Trade Signal
Short Usd around 114.38 with your stop loss above recent highest high and take profit at 107.95.
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.
