Short towards 109.15 | 13 June 2017

13 June 2017, USD/JPY

Technical Observation
Recently, USD dropped almost 100 pips after a rejection from the resistance 110.67 and could still fall. On the 4 Hour chart above, an upward rally can be seen; this is just but a pullback. If you went short following the second rejection from 110.67, leave this position open with your take profit still intact at 109.15. Only a clear bullish breach above 110.67 may push the price further upwards.
Technical levels:
Resistance levels
R1: 110.27
R2: 110.64
R3: 111.33
Pivot Point
109.95
Support Levels
S1: 108.58
S2: 109.26
S3: 109.58
Trade Signal
Short towards 109.15

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Imelda Maseno
Analyst of «FreshForex» company
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