short Usd around 114.32 | 13 November 2017
13 November 2017, USD/JPY
Technical Observation:
USD is still rallying around a key daily resistance line 114.32, instead of continuing short as previous stated. I went short around 114.32 and is still holding onto this position. I expect a decline in price with an ultimate take profit at 108.40 or even lower. On the other side, if the price can breakout above 114.32 with a big green candle, then expect a rise in price with a take profit at 118.00.. On the way upwards, the key lines to look for include 114.00, 114.75, 118.00 and ultimately 121.00.
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 114.32 towards 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.
