Still short with the first take profit at 110.30 | 24 November 2017
24 November 2017, USD/JPY
Technical Observation:
After a sharp decline in price seen on Wednesday, Usd is still reluctant to continue short. Today, I expect a decline in price towards 110.30 or even lower towards 108.41. As it is on the daily chart above, only a short position can be recommended with a take profit fixed at 108.41. On the way downwards, the key lines to look for include 110.30, 109.40 and 108.41. A break below these lines will push the price lower with the next take profit at 107.15 or even lower to 105.00.
Technical Levels
Resistance levels
R1: 111.92
R1: 112.63
R3: 113.73
Pivot
111.53
Support Levels
S1: 109.34
S2: 110.43
S3: 110.82
Trade Signal
Still short with the first take profit at 110.30 and the next at 108.41.
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.
