Technical analysis of USD/JPY for June 16, 2017 888011000 110888 USD/JPY is expected to trade with a bullish bias. The set is trading above the rising 20-period and 50-period moving averages, which play support functions and preserve the benefit predisposition. The relative strength index is bullish and calls for a further benefit. As long as 110.70 is not broken, look for a new increase to 111.70 and even to 112.05 in extension. If the cost moves in the opposite instructions as forecasted, short position is suggested below 110.70 with targets at 110.20 and 109.80. Chart Explanation: The black line reveals the pivot point, present cost above pivot point shows the bullish position and listed below pivot pointssuggest the short position. The red lines show the assistancelevels and the green line shows the resistance levels. These levels can be used to enter and exit trades.Strategy: PURCHASE, Stop Loss: 110.70, Take Revenue: 111.70 Resistance levels: 111.70, 112.05, and 112.45 Support levels: 110.20,109.80, and 109.35 The material has been provided by InstaForex

By | June 16, 2017

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