we're flat for now. | 14 October 2019

14 October 2019, USD/JPY

we're flat for now.

Technical Observation

Although USDJPY is in an active up trend. this pair is approaching a significant weekly resistance level 108.660. This is a good resistance level; and while the price is not able to clear breakout above it, we chose to expect a possible bounce from it to pick a long term sell. A break above 108.660 will mean waiting for a confirmation that we're continuing to the upperside with the next ideal take profit at 110.00 and may continue to the upperside with the next ideal take profit at 114.00.

Trade Recommendations:

we're flat for now.

Imelda Maseno
Analyst of «FreshForex» company
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