Bullish setup | 05 July 2017

05 July 2017, USD/JPY

Bullish setup

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: 113.51
R2: 113.71
R3: 114.3
Pivot
113.13
Support Levels
S1: 111.96
S2: 112.54
S3: 112.93

Trade Signal

Usd long towards 113.69

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Imelda Maseno
Analyst of «FreshForex» company
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