Bulls dominating | 21 December 2017
21 December 2017, USD/JPY
Technical Observation:
Recently, the short term support line 112.10 held true as a key support. Following the bounce from this support Usd has been rallying upwards and still has charge to to the upper side. I expect a rise towards 114.13 which is a key daily resistance line. If the price breaks above this resistance, then I expect further rise towards 121.00 or higher. As it is on the daily chart, only a buy position can be advised, on the other side, a rejection from 114.13 or e breakout below 112.10 will call for a short position towards 108.41.
Technical Levels
Resistance levels
R1: 114.04
R2: 114.62
R3: 116.22
Pivot
113.52
Support Levels
S1: 109.82
S2: 111.42
S3: 112.44
Trade Signal
Long now 112.15 towards 114.13
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.
