Short for Intraday traders | 14 September 2017

14 September 2017, USD/JPY

Short for Intraday traders
Technical Observations
For the past three day's consecutively , Usd has traded with an increasing bullish bias but is currently showing signs of being rejected at the short term hourly resistance line 110.66. Unless this resistance line is clearly broken to the upper side with a big green candle, I expect a rejection from this resistance to short Usd towards 109.68. If this resistance is broken, then I'll wait for a pullback to the just broken line to buy Usd towards 118.00. As it is, intraday traders should look for short positions, but if you're a day trader, you should remain long towards 118.00.
Technical levels:
Resistance levels
R1: 110.52
R2: 110.87
R3: 111.83
Pivot
109.91
Support Levels
S1: 107.98
S2: 108.95
S3: 109.56
Trade Signal
Intraday traders should look for shortterm short position towards 109.88

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Imelda Maseno
Analyst of «FreshForex» company
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