08 Mei 2017, USD/JPY
Technical Observation
Recently, USD gaped higher and broke above a short term resistance line 111.37. This pair is currently trading above its daily pivot 112.48, and unless there’s a clear bearish breach below this pivot, I expect a bullish move towards 115.08 and could extent higher to 117.01. On the weekly chart, I expect a positive move to the upper side towards 117.03-118.66. This zone is a potential sell place in the future as long as there's no clear bullish breach above it. Technical levels:
Resistance levels
R1:112.61
R2:112.73
R3: 112.94
Pivot Point
112.56
Support Levels
S1: 110.93
S2: 111.71
S3: 112.19
Trade Signal Long USD towards 117.01