30 октября 2019, USD/JPY
Technical Observation
According to the two moving averages above, we're in an active up trend. And while the price is contained above these two Simple moving averages, we expect possible momentum to the upperside. The idea is to wait for a pullback towards either 50.0% fib level, 108.483, or 38.2% fib level, 108.591 to pick a low risk buy order. With this buy, we expect a possible break above the daily high with an ideal take profit at 110.00 or even higher. On this chart, only buy positions looks ideal, but should price break below 50.0% fib level , then we may consider sell.
Trade Recommendations:
Buy USDJPY with your take profit at 110.00.
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