Short USD now towards 108.85 | 18 May 2017

18 May 2017, USD/JPY

Technical Observation:

Recently, USD dropped almost 300 pips and could drop further. Unless there's a clear bullish breakout above 111.01, I expect a positive move to the lower side towards 109.55 and may extend lower. On the 4 Hour chart above, sell positions can be recommended but only only up to 108.85. A breakout below this support will push the price further downward. My advice, short USD now towards 108.85

Technical levels:

Resistance levels

R1: 113.3

R2: 114.2

R3: 115.58

Pivot Point

112.83

Support Levels

S1: 110.09

S2: 111.46

S3: 111.93

Trade Signal

Short USD now towards 108.85

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.

Anjara

Facebook

Twitter

Imelda Maseno

Analyst of «FreshForex» company

FreshForex is a brand with a 20-year history, providing access to online trading for clients from 158 countries worldwide.
The company’s services are intended for adult users. If the use of these services violates local laws, you must immediately leave the website. The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage involves significant risks and may result in both profits and losses. Potential losses are limited to the amount of funds deposited. Before deciding to trade, clients should assess their risk tolerance, experience level, and knowledge.
We use cookies to improve your experience on our website.