22 Agustus 2018, USD/JPY
Technical Observation
Usd is still below the two Simple Moving Averages, this pair is still in an active downtrend, therefore, while the price remains below the two SMAs I expect nothing but a surge to the lower side. On its way downwards, the key lines to check for include 109.90, 108.52, and 105.21. If these lines are broken, then further momentum towards 105.4 or even lower is expected. As it is on the hourly chart, only a sell position looks more ideal, however, should the price break above 110.85, then this will be the place to look for a buy position.
Trade Signal.
Sell Usd
101% Double the volume