26 октября 2017, USD/JPY
Technical Observation:
Since the last trading day's analysis, nothing has changed much with this pair. Usd simply bounced off from the daily resistance line 114.38 as expected and should embark on a rally to the lower side as previously said. Unless the price clearly close above 114.38, I'm only interested in a short position in this pair, thus, I'm waiting for a minor pullback towards 114.38, to pick a short position with my take profit at 108.90. If the price breaks above 114.38, then I'll wait for a confirmation to re-buy Usd towards 118.00 or even higher.
Technical Levels
Resistance levels
R1: 112.56
R2: 113.27
R3: 114.41
Pivot
112.12
Support Levels
S1: 109.83
S2: 110.98
S3: 111.42
Trade Signal
Short Usd around 114.38 towards 108.05