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Remain long towards the upper trendline.

Remain long towards the upper trendline. | 02 Noviembre 2020

02 Noviembre 2020, USD/JPY

Technical Observation

USDJPY bounced off nicely from the supportive trendline shown above. The Friday's candle is a perfect bullish pin bar candle. On this chart, we are looking forward to buyers controlling this market towards the upper trendline. And in case the price breaks and closes above the upper trendline, then we recommend further long positions with an ultimate target at 107.885. A bounce from the upper trendline or a break below the lower trendline will push the price to the lowerside towards 103.910.

Trade Recommendations:

Remain long towards the upper trendline.

Imelda Maseno
Analyst of «FreshForex» company
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