Buy around 112.15 towards 114.29 | 18 December 2017
18 December 2017, USD/JPY
Technical Observation:
Usd is currently trading below its weekly pivot line seen at 113.02. Last week, there's was a decline price yet I expect a rise, Usd is currently being supported above a short term support line seen at 112.15. Unless there's a clear breakout below this support with a big red candle, I expect a rejection from this line to buy Usd towards 114.29. If the line is breached, then I expect a decline towards the weekly support line seen at 108.72.
Technical Levels
Resistance levels
R1: 114.04
R2: 114.62
R3: 116.22
Pivot
113.02
Support Levels
S1: 109.82
S2: 111.42
S3: 112.44
Trade Signal
Buy around 112.15 towards 114.29
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.
