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Wait for a possible sell around 106.690.

Wait for a possible sell around 106.690. | 23 August 2019

23 August 2019, USD/JPY

Wait for a possible sell around 106.690.

Technical Observation

For almost an entire week, the USDJPY has remained contained within the 50.0% fib level, 106.067 and the 100.0% fib level, 107.087. During this week and possibly part of next week, I expect this pair to remain within this range, not going above 107.087 and below 106.067. Currently the price is slightly above 106.606 which is a key resistance level. I expect this place to be a good sell place but should price break above it, then I expect further momentum further to the upside towards 107.087.

Trade Recommendations:

Wait for a possible sell around 106.690.

Imelda Maseno
Analyst of «FreshForex» company
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