18 October 2019, USD/JPY
Technical Observation
Few days Ago, USDJPY attempted a break above the daily high 108.613 but could not sustain this break. Following the break below the daily high, I expect this pair to decline even lower. On its way to the lowerside, we'll be focusing on the following levels 108.108, 107.796, 107.543, if the price goes below the 50.0% fib level, I'll expect a possible momentum to the lowerside with an ultimate target at 106.473. On this chart, only sell positions looks ideal, but if the price breaks above 108.965, then we may consider a buy position.
Trade Recommendations:
Sell USDJPY from 108.613 with your take profit at 108.108..