Remain short with an ultimate target at 105.00 | 06 January 2020

06 January 2020, USD/JPY

Remain short with an ultimate target at 105.00

Technical Observation:

USDJPY is currently in an active downtrend. Following the break below 108.40, we are looking for long term sell orders. This bearish price rally is supported by the fact that the price is below the Alligator trend indicator and the Main red handle of the ADX indicator is above the green line, we recommend looking for long term sell orders towards 105.00 and could breakout even lower. As it is now, only a break and a close above 108.49 will call for a low risk buy order with an ideal take profit at 109.60.
Trade Recommendations:
Remain short with an ultimate target at 105.00
Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Login
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .