16 Agustus 2017, USD/JPY
Technical Observation
For the past few days of this week, usd rallied on the higher ranges and has even recovered 100% the value it lost last week. This is a clear bullish increase in the market, and if the current weekly candle can close the way it is, then I expect a rise towards the upper resistance trendline and could rise further towards 115.14. On the weekly chart above, long positions can be recommended towards 115.14. How if the price can drop and close below the lower trendline, then A short position towards 106.13 will carry the day.
Technical levels:
Resistance levels
R1: 111.591
R2: 111.211
R3: 110.611
Pivot
110.248
Support Levels
S1: 109.645
S2: 109.264
S3: 108.672
Trade Signal
Looking for long positions towards 115.14.