Remain short with your take profit at 108.015. | 11 November 2019
11 November 2019, USD/JPY
Technical Observation
Usdjpy is currently rallying to the lowerside, I expect the current rally to the lowerside to be a retracement to the lowerside and should not go beyond the 50.0% fib level. On its way to the lowerside, the key levels to look for include 23.6% fib level, 38.2% fib level and 50.0% fib level. On this chart, only if the price breaks and closes above the previous week's highest high that we will consider a long term buy order with and ultimate take profit at 110.00. A break above this level could mean we are continuing upwards towards 114.00.
Trade Recommendations:
Remain short with your take profit at 108.015.
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.
