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Sell USDJPY towards 104.320.

Sell USDJPY towards 104.320. | 07 October 2020

07 October 2020, USD/JPY

Sell USDJPY towards 104.320.

Technical Observation

The USDJPY is still struggling below the upper trendline. While the price remains below the upper trendline, we are looking for low risk sell positions with an ultimate target around the lower trendline. And in case the price breaks and closes above the upper trendline then this will be a good place to consider a possible long term buy position towards 107.810. A rebound from around 105.72 will call for a low risk sell position with an ultimate target set around 104.320 a break below this level will push the price much lower.

Trade Recommendations:

Sell USDJPY towards 104.320.

Imelda Maseno
Analyst of «FreshForex» company
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