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Buy USDJPY towards 11.380.

Buy USDJPY towards 11.380. | 24 December 2019

24 December 2019, USD/JPY

Technical Observation

Since 11 September this year, USDJPY has been in an active and is still within the rising wedge formation and while the price is kept within this shape formation we recommend looking for long term buy orders with ultimate targets around 110.380. But in case the price breaks and closes below the supportive trend line, then this will be a possible indication that we are continuing to the lower side with an ultimate target at 105.820. A break above the previous week's highest high is a good chance to look for a buy.

Trade Recommendations:

Buy USDJPY towards 11.380.

Imelda Maseno
Analyst of «FreshForex» company
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