Sell USDJPY from 107.474. | 07 October 2019
07 October 2019, USD/JPY
Technical Observation
Last week, USDJPY declined intensely and is still very much bearish both on hourly chart attached. While the price is contained below the 50.0% fib level, I recommend looking for long term sell orders. On the hourly chart attached, I'm expecting a break below the daily low of 106.480 to pick a long term sell order towards 105.10 and could breakout even lower. On this chart, a retracementb back towards either 61.8% fib level, 107.239, or 50.0% fib level, 107.475 will provide a good place to look for sell.
Trade Recommendations:
Sell USDJPY from 107.474.
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.
