Short USD around 111.51 towards 109.73 | 29 May 2017
29 May 2017, USD/JPY
Technical Observation:
Recently USD entered into a possible bearish flag but broke out below it earlier the previous trading day. Today, I expect minor bullish retracements towards the bottom of this flag, that is 111.51, to resell USD towards 109.73. On the 4 Hour chart above, sell positions seems more ideal and can be recommended but only up to 109.73
Technical levels:
Resistance levels
R2: 112.48
R3: 113.43
Pivot Point
111.49
Support Levels
S1: 109.62S2: 110.58
S3: 111.19
Trade Signal
Short USD around 111.51 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.
