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

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Imelda Maseno
Analyst of «FreshForex» company
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