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Buy USDJPY above 1.10605 with your take profit at 1.10710.

Buy USDJPY above 1.10605 with your take profit at 1.10710. | 16 October 2019

16 October 2019, EUR/USD

Buy USDJPY above 1.10605 with your take profit at 1.10710.

Technical Observation

Just as GBPUSD, and USDJPY, EURUSD is in an active up trend. While the price is contained above the two simple moving averages, I expect a steep momentum to the upper side. Ideally, I'm only waiting for a break above the previous week's highest high to confirm that we're continuing to the upperside with the next ideal take profit being 1.1121 and could head even higher. On this chart, only buy positions looks ideal, but should price break and close below 1.0990, then we may consider a sell positions.

Trade Recommendations:

Buy USDJPY above 1.10605 with your take profit at 1.10710.

Imelda Maseno
Analyst of «FreshForex» company
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