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we're sellers towards 109.067.

we're sellers towards 109.067. | 27 December 2019

27 December 2019, USD/JPY

we're sellers towards 109.067.

Technical Observation

According to the hourly chart attached, USDJPY just bounced off from a significant 1 hour resistance level 109.675. While the price is not able to clear my break above the daily high 109.706, I expect further momentum to the lower side, the current bearish rally could continue even lower towards 50.0% fib level. On its way to the lower side, the key level to look for include 109.405, 109.219 and 109.067. If the price breaks below this fib level, then further momentum to the lower side is expected towards 61.8% fib level.

Trade Recommendations:

we're sellers towards 109.067.

Imelda Maseno
Analyst of «FreshForex» company
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