Expect Further Decline Towards 109.23 | 25 May 2017

25 May 2017, USD/JPY

Technical Observation

Recently, USD fell drastically and is currently rallying below 111.60. 111.60 is a key line and unless it's clearly breached to the upperside, I epect further decline towards 109.73. On the 4 Hour chart above, sell positions seems more ideal compared to buy positions. My advice, short USD with your SL above the previous day's highest high112.12 and TP at 109.23. Technical levels:

Resistance levels

R1: 112.02

R2: 112.4

R3: 113.05

Pivot Point

111.75

Support Levels

S1: 110.44

S2: 111.1

S3: 111.36

Trade Signal

Short USD towards 109.23

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

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Imelda Maseno

Analyst of «FreshForex» company

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