14 Agustus 2017, USD/JPY
Technical Observations
Just as I said on the Friday's analysis, Usd close below the lower trend line. The previous week's candle is a clear breakout candle and signals an increase in sellers. I'm waiting for minor bullish pullbacks towards 110.25 to pick a short position towards 106.13. On the weekly chart above, only sell positions can be recommended towards 106.13. If the price rice above 110.25, then Usd could rise towards 115.14. 109.12 is a key support line and if price breaks below it, this will be a confirmation that the price could fall further.
Technical levels:
Resistance levels
R1: 111.592
R2: 111.211
R3: 110.619
Pivot
110.249
Support Levels
S1: 109.646
S2: 109.265
S3: 108.673
Trade Signal
Wait and sell Usd around 110.25 with a take profit at 106.13.