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Wait for a sell from 108.751 with your take profit at 107.839.

Wait for a sell from 108.751 with your take profit at 107.839. | 08 January 2020

08 January 2020, USD/JPY

Wait for a sell from 108.751 with your take profit at 107.839.

Technical Observation

This week, USDJPY established a support around 107.839 and could not break any lower. While the price is not able to clearly break below the daily lowest low, I expect a possible retracement to the upper side and could break above 108.761 towards the daily highest high. A break and close below 107.839 will mean we are continuing to the lower side towards 100.00 and could extend much lower. If you are looking at this chart now, we recommend looking for a possible sell from around 50.0% fib level.

Trade Recommendations:

Wait for a sell from 108.751 with your take profit at 107.839.

Imelda Maseno
Analyst of «FreshForex» company
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