Sell a bounce from 106.813 towards 105.266.

14 August 2019, USD/JPY

Sell a bounce from 106.813 towards 105.266.

Technical Observation

For almost three weeks now, this pair has remained within a range not going above the daily low of 105.266 and the daily high or 109.316. These are key levels and while the price is contained in between them, we're only interested in trading reversals. Currently we're waiting for a bounce from 61.8% fib level or 106.813 to pick a low risk sell order, another good place to sell from is below 106.222. But in case the price breaks above 106.813, then this will be a good place to look for a buy.

Trade Recommendations:

Sell a bounce from 106.813 towards 105.266.

Imelda Maseno
Analyst of «FreshForex» company
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