remain long towards 115.15 | 13 December 2017
13 December 2017, USD/JPY
Technical Observation:
Since the beginning of this week, nothing has changed much, Usd is still stagnating around Friday's closing price but is showing signs of rising. Unless there's a clear close below the short term support line 113.23, I expect a massive rise towards 115.15 and should breakout above towards 118.65. A rejection from around 114.50 will call for a short position with a take profit fixed at 108.70. As it is on the weekly chart above, only a long position looks more ideal towards the weekly resistance zone 114.34-115.15.
Technical Levels
Resistance levels
R1: 113.1
R2: 114
R3: 116.04
Pivot
113.97
Support Levels
S1: 107.9
S2: 109.94
S3: 111.06
Trade Signal
Remain long towards 115.15
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.
