Sell USDJPY from 108.613 with your take profit at 108.108.. | 18 October 2019

18 October 2019, USD/JPY

Technical Observation

Few days Ago, USDJPY attempted a break above the daily high 108.613 but could not sustain this break. Following the break below the daily high, I expect this pair to decline even lower. On its way to the lowerside, we'll be focusing on the following levels 108.108, 107.796, 107.543, if the price goes below the 50.0% fib level, I'll expect a possible momentum to the lowerside with an ultimate target at 106.473. On this chart, only sell positions looks ideal, but if the price breaks above 108.965, then we may consider a buy position.

Trade Recommendations:

Sell USDJPY from 108.613 with your take profit at 108.108..

Imelda Maseno
Analyst of «FreshForex» company
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