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Expect buyers to come back soon

Expect buyers to come back soon | 07 February 2018

07 February 2018, USD/JPY

Expect buyers to come back soon

Technical Observation:
According to the weekly chart above, Usd is being supported by a key level 108.62, this is a key weekly supported and unless its clear breached to the lower side with a big red candle, I expect a bounce from it to pick another long position with my take profit at 114.64, if this line is breached, then I'll wait for a pullback to the just broken line to pick a short position towards 102.55 or even lower. On the way downwards, the key lines to look for include 105.40, 103.50 and 102.55
Technical Levels
Resistance levels
R1: 110.97
R2: 111.76
R3: 113.84
Pivot
109.70
Support Levels
S1: 105.54
S2: 107.62
S3: 108.89
Trade Signal
Rebuy Usd around 108.62 towards 114.64

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Imelda Maseno
Analyst of «FreshForex» company
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