Short USD towards 109.73 | 12 Juni 2017

12 Juni 2017, USD/JPY

Short USD towards 109.73

Technical Observation

USD rose perfectly to my retracement support line 110.63 but failed to breakout above. I expect further short positions following the rejection from 110.63 and unless this line is clearly breached to the upper side with a big green candle, I choose to have a bearish sentiment on this pair. On the 4 hour chart above, Sell positions seems more ideal and can be recommended towards 109.62
Technical levels:
Resistance levels
R1: 112.02
R2: 112.71
R3: 113.98
Pivot Point
111.66
Support Levels
S1: 108.9
S2: 110.17
S3: 110.75
Trade Signal
Short USD towards 109.73

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Imelda Maseno
Analyst of «FreshForex» company
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