Buy a retracement from 108.475 with your take profit at 108.928. | 28 October 2019
28 October 2019, USD/JPY
Technical Observation
Last week, Nothing significant happened on this pair. The USDJPY closed just a few pips from its opening price. Following the break and close above 23.6% fib level, 108.714, I expect further momentum towards the daily high 108.928 and could breakout even higher. The ideal is to wait for a pullback towards the 50.0% fib level to pick a long term buy towards 108.928, alternatively, conservative traders can wait for a break above the daily high to pick a low risk buy order with their take profit at 110.00.
Trade Recommendations:
Buy a retracement from 108.475 with your take profit at 108.928.
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.
