Buy USDJPY with your take profit at 109.95. | 16 December 2019
16 December 2019, USD/JPY
Technical Observation
After bouncing off from the supportive trend line, USDJPY continued to the upper side and is still very much bullish. I expect further momentum to the upper side and could breakout above the upper trend line towards 114.11. On its way to the upper side, the key levels to look for include 109.95, 110.15, 111.11 and 112.00. If these levels are broken, then further momentum towards the just stated level 114.11 is expected. But in case of pullback below 108.45, then this will give us an ideal place to pick a sell.
Trade Recommendations:
Buy USDJPY with your take profit at 109.95.
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.
