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Wait for low risk sell orders.

Wait for low risk sell orders. | 23 October 2019

23 October 2019, USD/JPY

Wait for low risk sell orders.

Technical Observation

Just as we mentioned in the previous day's forecast, nothing much has happened on this pair, the USDJPY is still rallying around the previous week's closing price 108.569. This is a key level and while the price is not able to clearly close above it, we choose to remain flat, we're waiting for a clear sell signal to pick a low risk sell order with an ultimate target around 104.667. If price breaks below this level, then the next level to look for include 103.225, and 100.334. On the other side, only a break above 108.556 will give us a buy opportunity.

Trade Recommendations:

Wait for low risk sell orders.

Imelda Maseno
Analyst of «FreshForex» company
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