08 tháng Tám 2017, USD/JPY
Technical Observation
Usd is still rallying around it's weekly opening price 110.70 and has not shown any signs of heading towards a particular direction. On the weekly chart above, I'll only pick a short position on a breakout below 110.28, and most importantly on a breakout below the lower trend line, if this trend line is broken, then I expect further decline towards 106.13, a rejection from the immediate trend line will push the price higher towards the upper trend line and could push the price upwards towards 115.14.
Technical levels:
Resistance levels
R3: 112.399
R2: 111.726
R1: 111.189
Pivot
110.516
Support Levels
S1: 109.979
S2: 109.306
S3: 108.769
Trade Signal
Buy Usd in case of a clear rejection from the lower trendline towards 115.14