Buy Usd above 112.75 towards 113.65. | 04 January 2018
04 January 2018, USD/JPY
Technical Observation:
Earlier today, Usd bounced off from the lower supportive trend line and is currently rallying upwards. I'm waiting for a breakout above the short term resistance line 112.75 to confirm a bullish rally towards 113.65 or even higher. As it on the 4 hour chart above, a long position looks more ideal especially above 112.75. But should the price bounce off from 112.75, then i expect a decline towards the lower trend line. My advice, buy Usd above 112.75 towards 112.62
Technical Levels
Resistance levels
R1: 113.22
R2: 113.76
R3: 114.67
Pivot
112.85
Support Levels
S1: 111.02
S2: 111.93
S3: 112.31
Trade Signal
Buy Usd above 112.75 towards 113.65.
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.
