Long USD towards 113.86 | 04 May 2017
04 May 2017, USD/JPY
Technical Observation:
On may 3rd, USD broke out above the resistance zone112.32-112..25, pullback to the just broken zone before continuing long. This pair is trading above it's daily pivot level 112.48 and unless there's a clean bearish breach below this pivot, this pair should trade on the higher ranges. On the Hourly chart above, I expect a breakout above 112.82 to push the price further upwards. My advice, unless there's a clean breach below the daily pivot, look for long positions
Technical levels:
Resistance levels
R2: 113.26
R3: 114.03
Pivot Point
112.48
Support Levels
S1: 110.93S2: 111.71
S3: 112.19
Trade Signal
Long USD towards 113.86
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.
