Technical Analysis Based on Breakout – Sell Usd around 114.38

USDJPY – Down
Sell Usd around 114.38
Technical Observation:
Usd is pulling back upwards but still below 114.38. I went short around 114.38 and is still holding onto this position. My expectation is that the price should continue to plummet but with a fixed take profit set at 108.25. As it is on the daily chart above, if you didn’t go short around 114.38, then wait for price to reach here then short Usd with your stop loss above the recent highest higher 114.50.
Technical Levels
Resistance levels
R1: 114.06
R2: 114.26
R3: 114.8
Pivot
113.73
Support Levels
S1: 112.66
R2: 113.19
R3: 113.53
Trade Signal
Sell Usd around 114.38 towards 108.25.

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