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Buy USDJPY with your take profit at 109.95.

Buy USDJPY with your take profit at 109.95. | 16 December 2019

16 December 2019, USD/JPY

Buy USDJPY with your take profit at 109.95.

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.

Imelda Maseno
Analyst of «FreshForex» company
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