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Only buy a clear breakout above 108.00

Only buy a clear breakout above 108.00 | 30 December 2019

30 December 2019, USD/JPY

Only buy a clear breakout above 108.00

Technical Observation:

USDJPY is currently consolidating in a downward manner. Following the bounce from th daily resistance level 109.12, I expect further momentum to the lower side and should break below te 50.0 % fib level. On its way to the lower side, the key levels to look for include 108.40,109.21,and 109.06 . Should the price break and closer below the last liken , then an acceleration even lower si expected but should not go beyond the daily low 108.42, on the lower side, the other key levels to look for include 108.91, and 108.72.
Trade Recommendations:
Only buy a clear breakout above 108.00
Imelda Maseno
Analyst of «FreshForex» company
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