Remain long towards the upper trendline. | 02 November 2020
02 November 2020, USD/JPY
Technical Observation
USDJPY bounced off nicely from the supportive trendline shown above. The Friday's candle is a perfect bullish pin bar candle. On this chart, we are looking forward to buyers controlling this market towards the upper trendline. And in case the price breaks and closes above the upper trendline, then we recommend further long positions with an ultimate target at 107.885. A bounce from the upper trendline or a break below the lower trendline will push the price to the lowerside towards 103.910.
Trade Recommendations:
Remain long towards the upper trendline.
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.
