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Wait for a sell below 105.266.

Wait for a sell below 105.266. | 12 August 2019

12 August 2019, USD/JPY

Technical Observation

Technically, USDJPY is in an active downtrend. What we're looking at on this chart include the daily low, 0.0% fib level, 105.266 and 50% fib level, 107.291. Today and possibly tomorrow, we expect price to remain within a range, not going below 105.266 or above 106.222, a break above 76.4% fib level may push the price higher towards the next subsequent fib levels but should not go beyond the 50% fib level, and on the other side, should price break below the 105.266, then a decline is expected.

Trade Recommendations:

Wait for a sell below 105.266.

Imelda Maseno
Analyst of «FreshForex» company
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