Short USD now towards 104.03 | 07 March 2018
07 March 2018, USD/JPY
Technical Observation:
Last week, the price of USD continues to plummet perfectly as expected, but should first pullback upwards anytime from now. I missed an entry at the tip of this week's highest high, but is waiting for another pullback to the upper side, specifically towards 107.33 to short Usd with my take profit still fixed at the weekly support seen at 104.03. If this support is broken, then I expect further drop towards 100.00 or even lower. As it is, I only advocate for sell orders with a take profit at 104.03
Technical Levels
Resistance levels
R1: 106.52
R2: 106.83
R3: 107.72
Pivot
105.93
Support Levels
S1: 104.15
S2: 105.04
S3: 105.62
Trade Signal
Short USD now towards 104.03
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.
