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Buy a bounce from the 50.0% fib level, 106.00 towards 106.51

Buy a bounce from the 50.0% fib level, 106.00 towards 106.51 | 02 September 2019

02 September 2019, USD/JPY

Buy a bounce from the 50.0% fib level, 106.00 towards 106.51

Technical Observation:

The USDJPY is currently trading within the previous week’s lowest low, and a fortnight’s highest high. Overall, this pair made a good bullish pullback just before the close of the end of the month, and while the price is contained above the previous , month’s lowest low, we’re going to be looking for long term buy orders on this pair. As it is now on the chart attached, we’re looking at the following levels 104.52, 105.04, 105.50, 105.78, 106.00 and 106.51. If price approaches any of these levels we’ll be looking for a trade.
Trade Recommendation:
Buy a bounce from the 50.0% fib level, 106.00 towards 106.51
Imelda Maseno
Analyst of «FreshForex» company
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