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We're sellers towards 107.

We're sellers towards 107. | 29 July 2021

29 July 2021, USD/JPY

We're sellers towards 107.

Technical observation:

USDJPY failed to rally upwards as previously expecpected, instead the price rushed to the lowerside and is still very much bearish. As it is now, on the hourly chart and on the 4 hours chart, we are looking for a possible bearish price action towards the lower trendline and may not go below it. If the price rebound from this trendline, then this will be a good place to consider a possible long term buy position back towards the upper trendline. On the otherside, if the price breaks below the same trendline, then we will be looking for sell positions.
Trade Recommendations:
We're sellers towards 107.
Imelda Maseno
Analyst of «FreshForex» company
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