Buy a bounce from the 50.0% fib level, 106.00 towards 106.51 | 02 September 2019
02 September 2019, USD/JPY
Technical Observation:
The USDJPY is currently trading within the previous week’s lowest low, and a fortnight’s highest high. Overall, this pair made a good bullish pullback just before the close of the end of the month, and while the price is contained above the previous , month’s lowest low, we’re going to be looking for long term buy orders on this pair. As it is now on the chart attached, we’re looking at the following levels 104.52, 105.04, 105.50, 105.78, 106.00 and 106.51. If price approaches any of these levels we’ll be looking for a trade.
Trade Recommendation:
Buy a bounce from the 50.0% fib level, 106.00 towards 106.51
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.
