Wait fora buy from around 104.624. | 21 August 2020
21 August 2020, USD/JPY
Technical Observation
Yesterday, USDJPY embarked on a serious downtrend and is still very much bearish on the daily chart, According to the weekly chart attached, we are expecting a possible momentum towards 104.624, if the price bounces off from this support, then this will be a good place to consider a possible buy position. And in case the price breaks and closes below it, then we will be expecting further momentum to the lower side with an ultimate target around 100.250. A bounce from 104.624 could push price upwards towards 111.852.
Trade Recommendations:
Wait fora buy from around 104.624.
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.
