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Sell USDJPY towards 100.00

Sell USDJPY towards 100.00 | 07 August 2019

07 August 2019, USD/JPY

Technical Observation

The USDJPY is currently trading with an increasing bearish bias momentum. According to the weekly MM Cycle Indicator shown on a separate window above, we're in an active downtrend. And while the price is contained below the two simple moving averages, I recommend looking for long term sell orders towards 105.710. At the moment, I don't recommend looking for buy orders right now, rather, look for retracements then pick low risk sell orders towards 100.00 and could break even lower.

Trade Recommendations:

Sell USDJPY towards 100.00

Imelda Maseno
Analyst of «FreshForex» company
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