Look for short term buy orders towards 109.217. | 07 June 2019
07 June 2019, USD/JPY
Technical Observation:
USDJPY is in an active downtrend. Currently the price is pulling back upwards in form of a bearish flag. I expect price to continue pulling back to the upper side but should not go beyond the level 109.217-109.133 where I'll be looking for sell orders. As it is on the 4 hour chart, I recommend you look for short term buy orders towards 109.217, which is also a good sell place. But in case of a decline below 107.990, then this will be a good place to pick a sell position towards 107.22 and may head lower to 100.
Trade Signal
Look for short term buy orders towards 109.217.
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.
