Wait and sell a break below 108.388. | 25 October 2019
25 October 2019, USD/JPY
Technical Observation
After failing to break above the daily high 108.928, USDJPY retraced back to the lowerside but could not break below the 23.6% fib level, we expect a possible momentum towards the 50.0% fib level but only if the price can break below 108.388. If the price successfully goes below this level, then we expect further momentum towards 38.2% fib level, 108.053, and should breakout lower towards 107.783. The best place to wait for a buy from is if the price can pullback up to the 50.0% fib level.
Trade Recommendations:
Wait and sell a break below 108.388.
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.
