Long USD towards 112.02. | 20 June 2017
20 June 2017, USD/JPY
Technical Observation
According to the previous forecast, USD rose almost 110 pips following a rejection from 110.63 and could still rise given the fact that my take profit line 112.02 has not been touched. On the 4 Hour chart above, I expect a rise towards 112.02 and even a breakout. If this is the case, then I'll wait for a retracement to the just broken zone to long USD towards 113.75. A rejection from 112.02 will mean waiting for a confirmation then a short positions towards 110.63. Technical levels:
Resistance levels
R1: 111.81R2: 112.05
R3: 112.74
Pivot Point
111.36
Support Levels
S1: 109.98S2: 110.67
S3: 111.12
Trade Signal
Long towards 112.02.
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.
