Sell Usd around 114.41 | 02 November 2017

02 November 2017, USD/JPY

Sell Usd around 114.41
Technical Observation:
Price is still rallying around 114.41, but still below it. I'm waiting for a clear rejection signal from this line to short Usd with my take profit fixed at 108.40. If the price can breakout above 114.41, then I'll wait for a retracement to the just broken line to pick a long position with my take profit fixed at the resistance line 118.00. A breakout above this resistance, then further rise towards 123.40 is expected. As it is on the 4 hour chart above, I'm only interested in a short position towards 108.40
Technical Levels
Resistance levels
R1: 113.61
R2: 114.06
R3: 114.8
Pivot
113.35
Support Levels
S1: 111.83
S2: 112.57
S3: 112.87
Trade Signal
Sell Usd around 114.41 with your take profit at 108.40

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Imelda Maseno
Analyst of «FreshForex» company
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