Remain long | 25 Agustus 2017

25 Agustus 2017, USD/JPY

Remain long

Technical Observation

On the daily chart above, Usd has just bounced off from a key daily support trend line. Unless this trend line is clearly breached to the lower side with a big green candle, I expect rally towards the upper resistance trend line. On the way upwards, key resistance lines can be seen around 111.90, 112.003 and 115.50. If the upper trendline is broken, then a rally upwards towards 115.50 and even up towards 118.00 is likely.

Technical levels:

Resistance levels

R3110.514

R2110.172

R1109.603

Pivot

109.241

Support Levels

S1108.692

S2108.350

S3107.781

Trade Signal

Remain long towards the upper trendline

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Imelda Maseno
Analyst of «FreshForex» company
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