Wait | 17 October 2019
17 October 2019, USD/JPY
Technical Observation
USDJPY is still holding onto the previous up trend. As I stated yesterday, while the price is contained above the two Simple moving average, I expect further momentum to the upperside, the idea is to wait for minor retracements to the lower side to pick low risk buy orders.But, in case the price goes below 108.403, then this will be a good place to look for a low risk sell order with targets around 107.910, 107.365 and 106.960. If these levels are broken, then further momentum to the lowerside is expected.
Trade Recommendations:
Wait.
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.
