18 Juni 2019, USD/JPY
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.