Bears in control | 15 November 2017
15 November 2017, USD/JPY
Technical Observation:
A recent bearish bounce was seen when Usd failed to breakout above the daily resistance lien 114.38. Since then, the Usd market has been bearish as shown on the chart above. I still expect a decline in price towards 108.25 or even lower. On the way downwards, the key hurdles to look for include 111.70, 110.55 and ultimately 108.25. If these lines are breached, then further declines towards 106.00 is expected.
Technical Levels
Resistance levels
R1: 113.82
R2: 114.17
R3: 114.77
Pivot
113.56
Support Levels
S1: 112.35
S2: 112.96
S3: 113.21
Trade Signal
Short towards 108.70
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.
