Place a pending sell limit order around 111.64 | 28 November 2017
28 November 2017, USD/JPY
Technical Observation:
According to the daily chart above, Usd is still very bearish, and while the price is still below the support line 111.64, I expect further decline towards 108.16 or even lower. As it is, I'm waiting for a second pullback towards 111.64 to pick for a short position with my take profit fixed at 108.16. My advice, place a pending sell limit order around 111.64 with your stop loss slightly above the previous day's highest high, 111.77 and a take profit at 108.16. If you went short earlier, then remain short towards 108.13
Technical Levels
Resistance levels
R1: 111.92
R1: 112.63
R3: 113.73
Pivot
111.54
Support Levels
S1: 109.34
S2: 110.43
S3: 110.82
Trade Signal
Place a pending sell limit order around 111.64
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.
