Short USD Towards 109.73 | 22 May 2017
22 May 2017, USD/JPY
Technical Observation:
Recently, USD breakout below a previous buy place 111.60. Now that the price is below it, I expect the line to act as a sell place unless it's breached to the upper side with a big red candle, but as it is, sell positions seems more ideal and safer towards 109.73. On the 4 Hour chart above, I expect a bearish rally towards 109.73 and may extend lower.
Technical levels:
Resistance levels
R1: 112.08
R2: 112.66
R3: 114.17
Pivot Point
111.16
Support Levels
S1: 108.15
S2: 109.65
S3: 110.57
Trade Signal
Short USD Towards 109.73
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.
