12 Agustus 2019, USD/JPY
Technical Observation
Technically, USDJPY is in an active downtrend. What we're looking at on this chart include the daily low, 0.0% fib level, 105.266 and 50% fib level, 107.291. Today and possibly tomorrow, we expect price to remain within a range, not going below 105.266 or above 106.222, a break above 76.4% fib level may push the price higher towards the next subsequent fib levels but should not go beyond the 50% fib level, and on the other side, should price break below the 105.266, then a decline is expected.
Trade Recommendations:
Wait for a sell below 105.266.