Wait for a sell from 108.569. | 21 October 2019
21 October 2019, USD/JPY
Technical Observation:
According to the weekly chart attached, USDJPY is currently rallying around a very significant resistance 108.569. This is a key level and while the price is not able to clearly breakout above it with a big green candle, it remains to be a sell place. The ideal is to wait for a clear sell signal on a lesser time frame such as the hourly chart or 30 minutes chart. If price goes above this level, then expect further momentum even higher with the next ideal target being 114.019.
Trade Recommendation:
Wait for a sell from 108.569.
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.
