Short USD around 110.65 towards 109.25 | 14 Juni 2017

14 Juni 2017, USD/JPY

Short USD around 110.65 towards 109.25
Technical Observation
Recently, USD has been trading on a steep upward trend line constantly forming higher lows. Unless this trend line is broken to the lower side, I expect a rise towards the resistance line 110.65. Only a clear breakout above this resistance line will convince me to buy USD towards 111.99. However, as it is, I expect a rejection from 110.65 to short USD towards 109.25. On the 4 Hour chart above, short positions seems more ideal around 110.65.
Technical levels:
Resistance levels
R1: 110.26
R2: 110.44
R3: 110.8
Pivot Point
110.09
Support Levels
S1: 109.37
S2: 109.73
S3: 109.9
Trade Signal
Wait and short USD around 110.65 towards 109.25

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Imelda Maseno
Analyst of «FreshForex» company
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