Consider sell orders towards 109.73 | 26 May 2017

26 May 2017, USD/JPY

Technical Observation

Recently, a false breakout was seen when USD rose above 111.60 but has currently descended back below it. Unless this resistance line is clearly breached with a green big candle, I expect further decline towards the support line 109.73 and may break below towards 104. On the 4 Hour chart above, A bearish decline towards 109.73 seems more ideal. My advice, consider sell positions towards 109.73.

Technical levels:

Resistance levels

R1: 112

R2: 112.18

R3: 112.57

Pivot Point

111.78

Support Levels

S1: 110.99

S2: 111.38

S3: 111.61

Trade Signal

Consider sell orders 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.

Anjara

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Imelda Maseno

Analyst of «FreshForex» company

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