Long around 111.85 with your take profit at 112.92
Long around 111.85 with your take profit at 112.92 | 30 June 2017
30 June 2017, USD/JPY
Technical Observation
Recently, Usd retraced back for the second time to my buy line 111.85. Unless this level is clearly breached to the lower side with a big red candle, I expect rejection from this line to buy Usd towards 115.01. On the 4 hour chart, now is the best time to long Usd with a Stop loss slightly below 111.72 and Take profit at 112.92. My recommendation, look for long positions now.
Technical levels:
Resistance levels
R1: 112.66
R2: 113.35
R3: 114.47
Pivot
112.24
Support Levels
S1: 110
S2: 111.12
S3: 111.54
Trade Signal
Long around 111.85 with your take profit at 112.92
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