flat | 17 January 2018
17 January 2018, USD/JPY
Technical Observation:
US D Continues to climb from the price of 110.15 and is still in a short term up trend. Today, I expect a rally towards 111.45 and should not go above it, If this line, 111.45, is to be broken, then I expect further rally towards the weekly resistance seen at 114.86. As it is on the weekly chart above, if you're not short already, you could resell euro around 111.45 or upon a rebound from 114.86. With both positions, your take profit should be fixed at 108.62.
Technical Levels
Resistance levels
R1: 110.85
R2: 111.25
R3: 111.94
Pivot
110.55
Support Levels
S1: 109.16
S2: 109.85
S3: 110.16
Trade Signal
flat
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.
