Short USD towards 109.73. | 01 June 2017
01 June 2017, USD/JPY
Technical Observation
Recently, there was a false breakout when USD rose above 111.60 but ended up below it just a few hours following this false breakout. As long as the price remains below the line 111.60, I expect a decline of price towards 109.73. On the 4 Hour chart above, sell positions look more ideal towards 109.73. Buy positions can only be reconsidered upon a confirmed breakout above 111.60 towards 1113.78. My advice, look for sell positions towards 109.73/ Technical levels:
Resistance levels
R1: 111.13R2: 111.42
R3: 112.02
Pivot Point
110.81
Support Levels
S1: 109.59S2: 110.2
S3: 110.52
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.
