Long USD around 112.32-112.25 towards 114.90. | 05 May 2017
05 May 2017, USD/JPY
Technical Observation:
After breaking above the buy zone (112.32-112.25), on 3rd may and 4th may, US retraced to this level for the first and second time respectively. I expect a third retracement to this zone to buy USD towards 113. On the hourly chart above, I have a pending buy order limit place within the highlighted buy zone. My advice, wait for a third retracment towards 112.32-112.25 to re-buy USD towards 113.
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 around 112.32-112.25 towards 114.90.
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.
