Remain towards 111.72 | 20 November 2017
20 November 2017, USD/JPY
Technical Observation:
As I stated before, Usd declined in value and still looks very vulnerable. I expect further decline in price towards 111.72 or even lower towards 108.41. If you didn't go short yesterday, you could wait for a slight pullback to the upper side then short it with your take profit at 108.41. As it is on the daily chart above, only a short position can be recommended towards 108.41. On the way downwards, price needs to clearly break below 111.72 with a big red candle, this will confirm a rally towards 108.41.
Technical Levels
Resistance levels
R1: 113.35
R2: 113.64
R3: 114.24
Pivot
113.04
Support Levels
S1: 111.84
S2: 112.44
S3: 112.75
Trade Signal
Remain towards 111.72
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.
