Buy Usd above 114.07 towards 118.25 | 26 December 2017
26 December 2017, USD/JPY
Technical Observation:
Usd is currently trading slightly above it's monthly pivot line 112.73. This is a possible bullish dominance indication, and while the price is still above this pivot line, I expect a momentum to the upper side with my first take profit set at 114.07 and the next at 118.25. As is on the daily chart above, only a long position looks more ideal and can be advised. If you're not ready to long now, you could wait and buy usd upon a breakout above 114.07 with your take profit at 118.25.
Technical Levels
Resistance levels
R1: 114.09
R2: 114.52
R3: 116.12
Pivot
Support Levels
S1: 109.12
S2: 111.52
S3: 112.26
Trade Signal
Buy Usd above 114.07 towards 118.25
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.
