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Wait for a low risk sell from 106.885.

Wait for a low risk sell from 106.885. | 27 August 2019

27 August 2019, USD/JPY

Technical Observation

On this chart, a Proven resistance can be seen around 106.700-107.075. This level has been tested 13 times in a raw which means, should price get back to it then this will be a good place to look for a good long term sell towards the untested support zone marked 104.640-104.450. A breakout above 106.885, will act as an ideal place to look for long term buy orders towards 110.00. On the other side, a breakout below the untested support level 104.450 will push the price massively to the lower side.

Trade Recommendations:

Wait for a low risk sell from 106.885.

Imelda Maseno
Analyst of «FreshForex» company
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