Bullish setup | 05 July 2017
05 July 2017, USD/JPY
Technical Observation
Usd is currently trading slightly above it's pivot line 113.13. As I said earlier, I still expect a rise towards 113.69 and even a breakout to continue long. If 113.69 is clearly breached to the upper side then I'll wait for a pullback to the just broken line to re-buy Usd with a take profit at 115.00. On the 4 hour chart above, long positions seems more ideal and can be recommended unless 111.85 is clearly breached to the lower side.
Technical levels:
Resistance levels
R1: 113.51R2: 113.71
R3: 114.3
Pivot
113.13
Support Levels
S1: 111.96S2: 112.54
S3: 112.93
Trade Signal
Usd long towards 113.69
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.
