flat | 09 June 2017
09 June 2017, USD/JPY
Technical Observation
The UK Elections results failed to trigger a major move in this pair. Rather, USD rose slightly upwards and could still be rising today. I expect further upward move towards the now resistance line 110.70 from where I've placed a ending sell limit. A clean breakout above this line may push the price further upwards. That said, unless this line is clearly breached to the upper side with a big green candle, I expect a rejection from this line to short USD towards 106.
Technical levels: Resistance levels R1: 110.42
R2: 110.91
R3: 111.92 Pivot Point 109.9 Support Levels S1: 107.88
S2: 108.89 S3: 109.41 Trade Signal Pullbacks
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.
