Flat | 05 December 2017
05 December 2017, USD/JPY
Technical Observation:
Yesterday, Usd gaped higher but ended up closing around Friday's opening price. Since Friday, nothing has changed much, we're back to the same slot where we opened last Friday. I expect a rise towards the daily resistance line 114.00, and even a breakout above to continue long. This breakout is expected since the previous week's candle is a perfect bullish engulfing candle and could push the price to the upper side towards 118.00 or even higher to 123.00. As it is on the daily chart above, I choose to remain flat.
Technical Levels
Resistance levels
R1: 114.98
R2: 116.12
R3: 118.92
Pivot
112.50
Support Levels
S1: 107.7
S2: 110.51
S3: 112.17
Trade Signal
Flat
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.
