Short USD towards 106.63 | 05 June 2017

05 June 2017, USD/JPY

Technical Observation

For the past three week, USD has made lower highers consistently, I expect further decline in price unless the daily resistance line 111.82 is clear breached to the upper side with a big green candle. On the weekly chart above, short positions seems more ideal towards the weekly support 106.63, and may extend further low towards 100.78

Technical levels:

Resistance levels

R1: 112.02

R2: 112.71

R3: 113.98

Pivot Point

111.44

Support Levels

S1: 108.9

S2: 110.17

S3: 110.75

Trade Signal

Short USD towards 106.63

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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