Flat | 22 June 2017
22 June 2017, USD/JPY
Technical Observation
USD is trading below it's daily pivot line 111.41. Unless this pivot line is clearly breached to the upper side with a big green candle, I expect a decline in price towards the support line 111.63. Any breakout below this support line will mean waiting for a pullback to the just broken line to short USD towards 109.55. A rejection from 110.63 will call for long positions with a take profit not higher than 112.02. On the 4 hour chart, conservative traders can wait and buy USD around 110.63. Technical levels:
Resistance levels
R1: 111.69R2: 111.99
R3: 112.47
Pivot Point
111.41
Support Levels
S1: 110.54S2: 111.02
S3: 111.22
Trade Signal
Wait and long USD around 110.63 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.
