look for a buy signal towards 118.00 | 12 Oktober 2017

12 Oktober 2017, USD/JPY

look for a buy signal towards 118.00

Technical Observation:

For the second time, Usd dropped below the hour support line 112.22 but ended up above it by the close of the day. The previous two day's candle are a strong bullish pin bar and indicates that buyers could be prepared to continue long, thus, today, I'm waiting for a clear buy signal around 112.32, with my target at 113.20 or even higher to the daily resistance line 118.00.

Technical Levels

Resistance levels

R1: 112.98

R2: 113.17
R3: 113.64
Pivot
112.72
Support Levels
S1: 111.75
S2: 112.22

S3: 112.51

Trade Signal

look for a buy signal towards 118.00

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Imelda Maseno
Analyst of «FreshForex» company
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