Short towards 109.15 | 13 June 2017
13 June 2017, USD/JPY
Technical Observation
Recently, USD dropped almost 100 pips after a rejection from the resistance 110.67 and could still fall. On the 4 Hour chart above, an upward rally can be seen; this is just but a pullback. If you went short following the second rejection from 110.67, leave this position open with your take profit still intact at 109.15. Only a clear bullish breach above 110.67 may push the price further upwards. Technical levels:
Resistance levels
R1: 110.27R2: 110.64
R3: 111.33
Pivot Point
109.95
Support Levels
S1: 108.58S2: 109.26
S3: 109.58
Trade Signal
Short towards 109.15
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.
