Wait for a possible buy from 50.0% with your 112.223. | 24 February 2020
24 February 2020, USD/JPY
Technical Observation
After establishing a hourly resistance level around 112.200, USDJPY continues to retrace to the lower side but should not go beyond the 50.0% fib level. As it is now on the hourly chart attached, expect a possible momentum to the lower side and should break below 38.2% fib level, 111.205, towards 50.0% fib level 110.891. If this price breaks below the 50.0% fib level, then this will mean we are continuing to the lower side towards the daily low 109.559 and could break much low towards 105.00.
Trade Recommendations:
Wait for a possible buy from 50.0% with your 112.223.
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.
