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Wait for a possible sell position from 108.826 towards 108.515.

Wait for a possible sell position from 108.826 towards 108.515. | 16 April 2021

16 April 2021, USD/JPY

Wait for a possible sell position from 108.826 towards 108.515.

Technical Observation

The US Dollar continues to rally below 108.826-108.802. While we continue to see sustenance below this zone,we are looking for long term sell positions towards the lower trendline. On its way to the lower side, the key levels to look for include 108.515, and 107.200. On the other side, should the price breakout above 108.826, then we will be waiting for a breakout above the blue line to pick a possible long term buy positions expecting the price to rally upwards towards 109.328.

Trade Recommendations:

Wait for a possible sell position from 108.826 towards 108.515.

Imelda Maseno
Analyst of «FreshForex» company
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