Look for a buy trade towards 114.00 | 04 December 2017
04 December 2017, USD/JPY
Technical Observation:
On the weekly chart above, a key weekly resistance can be seen around 114.50, while a key support zone can be seen around 100.00. During this week, I expect the price to trade within this equilibrium zone, and in case the price breaks above it, then further momentum towards 118.00 is expected, and is the price breaks below 100.00, then further decline towards 105.00. For the intraday traders, expect a rise towards the weekly resistance zone 114.00-115.00.
Technical Levels
Resistance levels
R1: 114.98
R2: 116.12
R3: 118.92
Pivot
113.31
Support Levels
S1: 107.7
S2: 110.51
S3: 112.17
Trade Signal
Look for a buy trade towards 114.00
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.
