05 September 2019, USD/JPY
Technical Observation
Yesterday, USDJPY traded intensely to the upperside and even went above the channel formation we looked at during the previous day. While the price remains above this channel and also above the alligator trend indicator marked above, we expect further momentum to the upperside towards the next level marked 106.64. Basically, we're waiting for a breakout above this level to pick further buy orders towards 107.00 or even higher. But In case the price bounce from 106.64, then we're going to look for sell orders.
Trade Recommendation
Buy a breakout above 106.64