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Wait | 29 October 2019

29 October 2019, USD/JPY

Buy a retracement from 108.475 with your take profit at 108.928.

Technical Observation

USDJPY continues to move to the upper side but is still several pips away from our target set at the daily high 108.928. This is a key level and while the price is not able to clearly breakout above it, I choose to remain flat, My exp[expectation is that the price should continue to the upper side and even breakout above 108.928, or the price should bounce off from this resistance so that I pick a sell. If your are looking at this chart, a bounce from 108.928 may attract a good sell towards 50.0% fib level and could push the price even lower.

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Imelda Maseno
Analyst of «FreshForex» company
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