Buy a bunce form the lower trendine with your take profit at 113.85. | 04 December 2018

04 December 2018, USD/JPY

Buy a bunce form the lower trendine with your take profit at 113.85.

Technical Observation

USDJPY is currently trading with an increasing bearish bias momentum. This pair however is still above the supportive trendline acting as a support to the converging wedge formation. Should the price break below this trendline, then this will be an ideal place to look for a short position towards 113.06. And on the flip side, should the price bounce from the same trendline, then this will, be a good place to look for a long term buy order. Other than this buy, the next best place to buy from is above 113.85 or upon a bounce from 112.95.

Trade Signal.

Buy a bounce form the lower trendine with your take profit at 113.85.

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Imelda Maseno
Analyst of «FreshForex» company
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