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Sell a break below 108.40.

Sell a break below 108.40. | 12 December 2019

12 December 2019, USD/JPY

Sell a break below 108.40.

Technical Observation

Not much happening on this pair, since the beginning of this week, USDJPY has remained held above the supportive trend but is yet to make a significant retracement, I'm expect a possible 50.0% fib retracement that could see price pullback upwards towards 109.15. On the other side, should the price break and close below the daily low 108.40, then we expect a steep momentum towards 107.90. On its way to the lower side, the key lines to look for include 108.15, 108.00 and 107.90. If these lines are broken, then a momentum towards 106.90 is expected.

Trade Recommendations:

Sell a break below 108.40.

Imelda Maseno
Analyst of «FreshForex» company
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