Flat | 02 Agustus 2017

02 Agustus 2017, USD/JPY

Flat

Technical Observations

Yesterday, Usd pulled back above the short term support line 110.28 and is still above it. Unless there's a clear close below 110.28, I'd opt to remain flat and wait for a confirmed break below 110.28. If this support is broken, then the price could push lower towards the lower trend line and could go even further towards 106.11 in case this trend line is broken. A key resistance line can be seen around 110.25 and if the price can pullback to this line, then this is the best place to resell Usd.

Technical levels:

Resistance levels

R1: 111.76

R2: 112.82
R3: 114.48
Pivot
111.15
Support Levels
S1: 107.83
S2: 109.49
S3: 110.1
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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