Wait for a resell from 109.401. | 20 December 2019

20 December 2019, USD/JPY

Wait for  a resell from 109.401.

Technical Observation

USDJPY is current in an active down trend. While the price is contained below these two simple moving averages and also below the resistance level 109.401, I expect further momentum to the lower side and should break below 109.155 towards 108.585. On its way to the lowerside, the key levels to look for include 109.155, 108.970, 108.890 and 108.660. But on the other side, should the price break above 109.401, then we'll wait for another break above 109.660 to confirm that we are upwards towards 110.0.

Trade Recommendations

Wait for a resell from 109.401.

Imelda Maseno
Analyst of «FreshForex» company
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