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Sell a bounce from the upper trendline

Sell a bounce from the upper trendline | 04 September 2019

04 September 2019, USD/JPY

Technical Observation

USDJPY is in an active downtrend. Other than the fact that the Alligator trend indicator is showing us an active , the price is currently within a declining channel. While the price is contained within this channel formation, we're looking for long term sell orders. On this chart, Buy positions, or looking for buy orders on this pair are very risky and cannot be recommended, but in case the price breaks above the trend indicator, then an ultimate break above the channel formation is expected towards 106.615.

Trade Recommendations:

Sell a bounce from the upper trendline

Imelda Maseno
Analyst of «FreshForex» company
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