Remain long towards 114.29 | 20 Desember 2017

20 Desember 2017, USD/JPY

Remain long towards 114.29

Technical Observation:
Since the beginning of this week, the line 112.00 has contained the price above it and is not showing any signs of being breached any time soon. While the price is above this line, my interest lies only on possible buy orders towards 114.29. As it is on the daily chart above, long positions looks more ideal and can be advice. However, a breach below 112.00 may mean we're going short towards 108.32 which is a key daily demand line. My advice, remain long towards 114.29.
Technical Levels
Resistance levels
R1: 114.04
R2: 114.62
R3: 116.22
Pivot
112.52
Support Levels
S1: 109.82
S2: 111.42
S3: 112.44
Trade Signal
Remain long towards 114.29

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Imelda Maseno
Analyst of «FreshForex» company
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