Wait for a sell from the upper trendline towards 102.590. | 01 June 2021
01 June 2021, USD/JPY
Technical Observation
USDJPY is currently pulling back to the upperside but is still below a significant dynamic resistance trendline. While the price remains below this trendline, I expect nothing but a sell position from the upper trendline. Aggressive traders can pick low risk buy positions towards the upper trendline, while conservative traders can wait for a rebound from the upper trendline to pick a possible long term sell positions towards 102.590. On its way to the lowerside, the key levels to look for include 107.665, 105.140.
Trade Recommendations:
Wait for a sell from the upper trendline towards 102.590.
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.
