Wait | 06 November 2019
06 November 2019, USD/JPY
Technical Observation
After a perfect 50.0% retracement, USDJPY rallied to the upper side and even went above 23.6% fib level but could not reach the swing high. we are expecting further momentum to the upside and should break above the swing high towards 110.00. If this target is breached, then further momentum towards 114.00 or even higher is expected. On the lower side, should the price move below 23.6% fib level, then an acceleration towards 38.8% fib level or 50.0% fib level is expected. On this chart, a break above the swing high, 109.260 will give us a good buy opportunity.
Trade Recommendations:
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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.
