Short USD Towards 110.65 | 02 May 2017

02 May 2017, USD/JPY

Short USD Towards 110.65
Technical Observation: Since 26th April, USD entered into a consolidating, rallying only within the ascending wedge. I'm interested only in trading reversals unless there's a clear bearish breach below the lower trend line and most importantly a break below 111.36,if this should be the case, then its better to wait for retracements to the just broken zone to short USD towards 110.85. In the short term, a bearish move towards 111.62 is expected. My advice, short USD towards 111.62 and your SL slightly above 112.00 .
Technical levels:
Resistance levels
R1: 111.81
R2: 112.08
R3:: 112.71
Pivot Point
111.89
Support Levels
S1: 111.66
S2: 111.77
S3: 111.82
Trade Signal
Short USD Towards 110.65

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Imelda Maseno
Analyst of «FreshForex» company
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