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We're sellers towards 108.535.

We're sellers towards 108.535. | 27 May 2021

27 May 2021, USD/JPY

Technical Observation

USDJPY continues to rally below the upper trendline. As I mentioned during the previous day, we still expect a possible rally to the lowerside but should not go beyond the level 108.475. If the price breaks below 108.475, then this will be a good place to consider a possible long term sell position with an ideal target set at 107.705. If the price breaks below this level, then further momentum to the lowerside is expected with the next ideal target set around 106.00 and may extend much lower.

Trade Recommendations:

We're sellers towards 108.535.

Imelda Maseno
Analyst of «FreshForex» company
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