01 Agustus 2017, USD/JPY
Technical Observations
Yesterday, Usd declined below the short term-support line 110.11 and is still rallying below. Today, I expect further decline towards the lower trend line and even a breakout below the lower support trend line. If this trend line is broken, I'll wait for a pullback to the just broken trend line to re-sell Usd with the first take profit at 108.85, next target at 108.12 and the last target at 106.13. On the weekly chart above, sell positions seems more ideal and can be recommended especially in case the price breaks below the lower trend line.
Technical levels:
Resistance levels
R1: 112.35