Flat | 23 June 2017
23 June 2017, USD/JPY
Technical Observation
Recently, USD entered into a triangular formation and is still contained within this triangle. I expect a breakout above the the triangle to confirm a bullish move towards 111.72. A breakout below the lower trend line acting as a diagonal to the triangle may push the price to the lower side towards 110.96. On the hourly chart above, its better to remain flat and wait for a breakout to the either sides of this triangle.
Technical levels:
Resistance levels
R1: 111.4R2: 111.48
R3: 111.61
Pivot Point
111.35
Support Levels
S1: 111.09S2: 111.22
S3: 111.27
Trade Signal.
Flat
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.
