Buy a bounce from within 104.335-104.890 towards 107.650. | 13 August 2019
13 August 2019, USD/JPY
Technical Observation
Ealier today, USDJPY bounced off from an untested support zone 104.890-104.335. This is a key zone and while the price remains above it, we choose to look for buy orders. Ideally, this buy is just retracement back to the upper side but should not go above the turn coat resistance level 108.205. If this level is broken, then further momentum to the upper side is expected towards the weak resistance level 108.760, if this resistance is broken, then further movements to the upper side is expected towards 112.090.
Trade Recommendations:
Buy a bounce from within 104.335-104.890 towards 107.650.
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.
