Look for a buy signal around 112.01 | 13 Oktober 2017

13 Oktober 2017, USD/JPY

Look for a buy signal around 112.01

Technical Observation

Even after the two bullish pin bar occurring consecutively on the daily charts, Usd continues to drop in price. Currently, Usd is rallying around the hourly support line 112.01, unless the price is clearly below it, I expect a rejection from it to buy Usd with my take profit fixed at 118.00. On the way upwards, key resistance lines to look for include 112.73, 113.00 and 113.45, if these lines are breached, then the price could rise to 118.00

Technical Levels
Resistance levels

R1: 112.45

R2: 112.62

R3: 112.95

Pivot
112.29
Support Levels
S1: 111.62
S2: 111.96
S3: 112.12
Trade Signal
Look for a buy signal around 112.01 with your take profit at 118.00

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Imelda Maseno
Analyst of «FreshForex» company
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