Long USD towards 112.11 | 01 May 2017
01 May 2017, USD/JPY
Technical Observation:
Recently, USD broke above the resistance zone 111.58-111.60 and is currently still above it. The break above this zone signify a break above the daily pivot 111.45. Therefore, unless there's a clear break below this daily pivot, this pair should trade on the higher ranges probably towards 113. In the meantime, I'm waiting for retracements to the just broken line 111.60 to re-buy with my SL below 110.81 and TP at 112.11.
Technical levels:
Resistance levels
R2: 111.82
R3: 111.95
Pivot Point
111.7
Support Levels
S1: 111.45S2: 111.58
S3: 111.66
Trade Signal
Long USD towards 112.11
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.
