Remain long towards 109.690. | 09 January 2020
09 January 2020, USD/JPY
Technical Observation
Yesterday, USDJPY established a swing low around 107.710, while the price is held above this level, I expect the current bullish price rally to be the continuation of a retrecement rally and could see price break beyond last week's swing high 109.690 towards 110.00. On its way to the upper side, the key lines to look for include 109.470, 109.690 and 109.90. A break above these levels could push price much higher towards 110.00. A break below 107.720 could mean we are heading to the lower side.
Trade Recommendations:
Remain long towards 109.690.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
