Bulls in full control | 08 December 2017
08 December 2017, USD/JPY
Technical Observation:
As I said earlier, Usd rose tremendously and even broke out above 113.30-113.20 with a big green candle. This is a perfect bullish dominance signal and while the price remains above this zone, Only a buy position is advised with an ideal take profit fixed at 114.35. I'm waiting for a consolidations above this zone and clear buy signal to buy usd. On the way upwards, the key lines I'm interested in include 113.75, 114.00 and 114.35. If these are are breached, then I expect an rise towards 118.00
Technical Levels
Resistance levels
R1: 113.1
R2: 114
R3: 116.04
Pivot
111.97
Support Levels
S1: 107.9
S2: 109.94
S3: 111.06
Trade Signal
Long Usd within 113.20-113.30 towards 114.35
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.
