04 Desember 2018, USD/JPY
Technical Observation
USDJPY is currently trading with an increasing bearish bias momentum. This pair however is still above the supportive trendline acting as a support to the converging wedge formation. Should the price break below this trendline, then this will be an ideal place to look for a short position towards 113.06. And on the flip side, should the price bounce from the same trendline, then this will, be a good place to look for a long term buy order. Other than this buy, the next best place to buy from is above 113.85 or upon a bounce from 112.95.
Trade Signal.
Buy a bounce form the lower trendine with your take profit at 113.85.
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