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Buy a break above 109.68.

Buy a break above 109.68. | 18 December 2019

18 December 2019, USD/JPY

Buy a break above 109.68.

Technical Observation

USDJPY is currently in an active up trend. The pair is being held above the Alligator trend indicator but is currently approaching a significant 4 hours resistance level 109.68. This is a key level and while the price is not able to clearly break and close above it, we choose to remain flat. We're waiting for price to rise beyond 109.68 to confirm that we are continuing upwards with our take profit at 110.00. As it is according top the KDJ indicator attached, if the three lines forming this indicator can descend below 20.0, then this will be a good oversold level to pick a buy from.

Trade Recommendations:

Buy a break above 109.68.

Imelda Maseno
Analyst of «FreshForex» company
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