Wait for a sell below 107.990 towards 105.22. | 18 Juni 2019

18 Juni 2019, USD/JPY

Wait for a sell below 107.990 towards 105.22.

Technical Observation

USDJPY is still trading within the diverging wedge formation. While the price is contained within this shape, we're waiting for reversals from the upper trendline to pick a sell or a bounce from the supportive trendline to pick a buy. But should price breakout below the lower supportive trendline, then I'll be looking for a long term sell order towards 105.00 or even lower. According to the 4 hour chart attached, we recommend looking for long term sell orders especially if the price can breakout below 107.990.

Trade Signal:

Wait for a sell below 107.990 towards 105.22.

Imelda Maseno
Analyst of «FreshForex» company
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