Wait fora buy from around 104.624. | 21 August 2020

21 August 2020, USD/JPY

Wait fora buy from around 104.624.

Technical Observation

Yesterday, USDJPY embarked on a serious downtrend and is still very much bearish on the daily chart, According to the weekly chart attached, we are expecting a possible momentum towards 104.624, if the price bounces off from this support, then this will be a good place to consider a possible buy position. And in case the price breaks and closes below it, then we will be expecting further momentum to the lower side with an ultimate target around 100.250. A bounce from 104.624 could push price upwards towards 111.852.

Trade Recommendations:

Wait fora buy from around 104.624.

Imelda Maseno
Analyst of «FreshForex» company
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