Wait for retracements towards 111.65 | 23 November 2017

23 November 2017, USD/JPY

Wait for retracements towards 111.65
Technical Observation:
Usd is currently trading with an increasing bearish momentum. Following last week's forecast, Usd has shadded close to 350pips. I expect a decline with a key hurdle being seen at 108.41. On the way downwards, the key lines to look for include 110.30, 108.95 and 108.41. If these lines are breached, then further decline towards 100.00 is expected in the long run. My advice, wait for a slight bullish retracement towards 111.65, then short Usd with your take profit still fixed at 108.41.
Technical Levels
Resistance levels
S1: 111.92
S2: 112.63
S3: 113.73
Pivot
111.53
Support Levels
S1: 109.34
S2: 110.43
S3: 110.82
Trade Signal
Wait and short Usd around 111.65 towards 108.41

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Imelda Maseno
Analyst of «FreshForex» company
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