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Buy a breakout above 106.64

Buy a breakout above 106.64 | 05 September 2019

05 September 2019, USD/JPY

Technical Observation

Yesterday, USDJPY traded intensely to the upperside and even went above the channel formation we looked at during the previous day. While the price remains above this channel and also above the alligator trend indicator marked above, we expect further momentum to the upperside towards the next level marked 106.64. Basically, we're waiting for a breakout above this level to pick further buy orders towards 107.00 or even higher. But In case the price bounce from 106.64, then we're going to look for sell orders.

Trade Recommendation

Buy a breakout above 106.64

Imelda Maseno
Analyst of «FreshForex» company
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