USD still long towards 117.01 | 15 May 2017
15 May 2017, USD/JPY
Technical Observation
On the weekly chart above, I expect further rise to the upper side and a possible breakout above 114.90. On the contrary, any bearish breach below 108.58 will push the price to the lower side towards 101.14. On the weekly chart above, I expect a positive rise to the upper side the entire week, thus, I'll remain bullish bias temporarily. In the meantime, I expect a retracement towards 111.17 to long USD at the ultimate least risk.
Technical levels:
Resistance levels
R1: 113.26
R2: 113.39
R3: 113.98
Pivot Point
112.68
Support Levels
S1: 111.83
S2: 111.96
S3: 112.55
Trade Signal
USD still long towards 117.01
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.
