Short USD Towards 108.26 | 24 April 2017

24 April 2017, USD/JPY

Technical Observation:

Recently, we witnessed a possible false break above 109.17; the USD broke above it, but is now below it. On the 4 hour Chart above, a short position towards 108.26 is looming. I'm short in this pair with my SL above the Friday's highest high, 109.49 and my TP at 108.26. A bearish breach below 108.26 will push the price towards 106.62.

Technical levels:

Resistance levels

R1: 109.68

R2: 109.97

R3: 110.74

Pivot Point

109.2

Support Levels

S1: 107.66

S2: 108.43

S3: 108.91

Trade Signal

Short USD towards 108.26

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.

Anjara

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Imelda Maseno

Analyst of «FreshForex» company

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