short Usd around 114.32 | 13 November 2017

13 November 2017, USD/JPY

short Usd around 114.32
Technical Observation:
USD is still rallying around a key daily resistance line 114.32, instead of continuing short as previous stated. I went short around 114.32 and is still holding onto this position. I expect a decline in price with an ultimate take profit at 108.40 or even lower. On the other side, if the price can breakout above 114.32 with a big green candle, then expect a rise in price with a take profit at 118.00.. On the way upwards, the key lines to look for include 114.00, 114.75, 118.00 and ultimately 121.00.
Technical Levels
Resistance levels
R1: 113.84
R2: 114.21
R3: 114.96
Pivot
113.48
Support Levels
S1: 111.97
S2: 112.72
S3: 113.09
Trade Signal
Short Usd around 114.32 towards 108.40

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Imelda Maseno
Analyst of «FreshForex» company
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