Expect buyers to come back soon | 07 February 2018
07 February 2018, USD/JPY
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
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.
