Buy a break above 106.108. | 20 August 2020
20 August 2020, USD/JPY
Technical Analysis
USDJPY is currently rallying around 106.098. On the 1 Hour Chart , the previous candle closed above the previous 52 Period Exponential Moving Average. This is a possible Indication that we are in an active up trend . USDJPY_e is currently in a range, not going above the previous day's highest high 106.15,or the previous day's lowest low 105.1. If the price breaks above 106.15 then we will consider a long term buy with our target at 101.455. And on the flipside, a sustained move below 106.15 will attract sellers with an ideal target around 98.9749.
Trade Recommendations:
Buy a break above 106.108.
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.
