Re-buy USD from 109.71 towards 111.60 | 25 April 2017
25 April 2017, USD/JPY
Technical Observation:
Recently, we got stopped out when the price gaped above a key short term resistant line109.17 and above a retracement line 109.71. I'm waiting for a second retest of this retracment line to re-buy the US Dollar towards 111.60. From the 4Hour chart above, if you didn't go long from 109.71, its best and safe to wait for a second test of this line to go long. My advice, wait for a second test of 109.71 to go long with you SL slightly below 109.40 and TP at 111.60.
Technical levels: Resistance levels
R2: 110.15
R3: 110.27
Pivot Point 110.04
Support Levels
S1: 109.81S2: 109.92
S3: 109.98
Trade Signal Rebuy USD from 109.17 towards 111.60
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.
