Sell a break below 23.6% fib level. | 22 November 2019
22 November 2019, USD/JPY
Technical Observation
After establishing a swing low around 108.285, USDJPY retraced back to the upperside but could not break above the 61.8% fib level, following the bounce from this fib level, the USDJPY rallied to the lowerside but could not go beyond the swing low, I expect a possible momentum to the lowerside and could break below the swing low 108.285 towards 105.00 or even lower. A break above 38.2% fib level will mean the price is continue to the upperside towards 50.0% fib level and could continue much higher.
Trade Recommendations:
Sell a break below 23.6% fib level.
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.
