Wait for a low risk sell from 106.885. | 27 August 2019
27 August 2019, USD/JPY
Technical Observation
On this chart, a Proven resistance can be seen around 106.700-107.075. This level has been tested 13 times in a raw which means, should price get back to it then this will be a good place to look for a good long term sell towards the untested support zone marked 104.640-104.450. A breakout above 106.885, will act as an ideal place to look for long term buy orders towards 110.00. On the other side, a breakout below the untested support level 104.450 will push the price massively to the lower side.
Trade Recommendations:
Wait for a low risk sell from 106.885.
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.
