Short USD towards 109.73 | 12 June 2017

12 June 2017, USD/JPY

Short USD towards 109.73

Technical Observation

USD rose perfectly to my retracement support line 110.63 but failed to breakout above. I expect further short positions following the rejection from 110.63 and unless this line is clearly breached to the upper side with a big green candle, I choose to have a bearish sentiment on this pair. On the 4 hour chart above, Sell positions seems more ideal and can be recommended towards 109.62

Technical levels:

Resistance levels

R1: 112.02

R2: 112.71

R3: 113.98

Pivot Point

111.66

Support Levels

S1: 108.9

S2: 110.17

S3: 110.75

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.

Anjara

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Imelda Maseno

Analyst of «FreshForex» company

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