Wait for a sell below 105.266. | 12 August 2019
12 August 2019, USD/JPY
Technical Observation
Technically, USDJPY is in an active downtrend. What we're looking at on this chart include the daily low, 0.0% fib level, 105.266 and 50% fib level, 107.291. Today and possibly tomorrow, we expect price to remain within a range, not going below 105.266 or above 106.222, a break above 76.4% fib level may push the price higher towards the next subsequent fib levels but should not go beyond the 50% fib level, and on the other side, should price break below the 105.266, then a decline is expected.
Trade Recommendations:
Wait for a sell below 105.266.
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.
