15 августа 2017, USD/JPY
Technical Observations
Looked at from a different point of view, usd appears to have established a support along the lower support trend line. Unless this trend line is breached to the lower side with a big red candle, I expect a rise in price towards the upper resistance trend line. . A break above will push the price further upwards towards 115.14. If the lower support trend line is broken, then the price could fall further towards 106.13. 110.25 is a key line and will require a great amount of force to break above, thus, if the price can close above it, this will confirm a move towards 115.14.
Technical levels:
Resistance levels
R1: 111.592
R2: 111.211
R3: 110.619
Pivot
110.249
Support Levels
S1: 109.646
S2: 109.265
S3: 108.673
Trade Signal
Long Usd towards 115.14
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