Wait | 23 August 2018
23 August 2018, USD/JPY
Technical Observation
Last trading day, USD traded intensely to the upper side and even went above the two SMAs, even more important, the price touched a key resistance line 110.81, this is a key line and should the price breakout above it, then I'll wait for a rise above 111.40 to confirm further momentum towards 112.15 and should not go any higher. However, in case of a break even higher, then further rally towards 114.00 is expected. On the lowerside, only a clear break below the recent lowest low will attract a rally further downwards.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
