Looking to buy Usd | 09 August 2017

09 August 2017, USD/JPY

Looking to buy Usd

Technical Observation

Usd declined below the short term support line 110.38 but is facing a key support trend line. Unless the price clearly breach below this support trend line, I expect a rejection from this trend line to long Usd towards the upper resistance,if this trend line is broken, then the price could rise even further towards the weekly resistance line 115.14. A breakout below the support trend line will push the price to the lower side towards the weekly support line 106.13. The Line 110.28 is a key short term line and unless price close above, I expect a decline towards 106.13.

Technical levels:

Resistance levels

R3: 112.399

R2: 111.726

R1: 111.189

Pivot

110.516

Support Levels

S1: 109.979

S2: 109.306

S3: 108.769

Trade Signal

Look for buy places towards the upper trendline

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Imelda Maseno
Analyst of «FreshForex» company
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