Sell a bounce from 106.260. | 29 August 2019
29 August 2019, USD/JPY
Technical Observation
USDJPY is currently consolidating in between a contracting wedge formation, we're waiting for a bounce from the upper trendline to pick a low risk sell and a bounce from the supportive trendline to pick a buy. A break above the upper trendline will push the price steeply to the upperside towards 106.725 or even higher. And should price break below the supportive trendline, then this will be a good place to look for sell orders towards 104.865. On its way to the lowerside the key levels to look for include 105.485, and 105.175.
Trade Recommendations:
Sell a bounce from 106.260.
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.
