Remain long towards 114.13 | 22 December 2017
22 December 2017, USD/JPY
Technical Observation:
Despite my previous forecast that Usd could spike higher, this pair barely moved to the upper side before closing few pips below its opening price. Yesterday's candle is inside the previous day's candle and means there's still momentum to the upper side. Having that in mind, I expect a slight decline before I pick a long position towards the daily resistance line 114.13. As it is on the daily chart, only a long position looks more ideal and can be advised towards 114.13 or even higher to 121.11.
Technical Levels
Resistance levels
R1: 114.04
R2: 114.62
R3: 116.22
Pivot
113.42
Support Levels
S1: 109.82
S2: 111.42
S3: 112.44
Trade Signal
Remain long 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.
