Wait and buy a break above 109.72. | 26 December 2019

26 December 2019, USD/JPY

Wait and buy a break above 109.72.

Technical Observation:

USD is currently retracing to the lower side, this is after price establishing a swing high around 109.72. On this chart, we’re seeing only two possible scenarios, the price could continue even lower towards 23.6% fib level, or the price could continue upwards and may breakout above the recent highest high 109.72 towards 114.00. Te latter will be a move perfectly in line with the trend and could see the price break even higher. On its way upwards, the key levels to look at include 111.21, 112.65 and 114.
Trade Recommendations:
Wait and buy a break above 109.72.
Imelda Maseno
Analyst of «FreshForex» company
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