16 September 2019, USD/JPY
Technical Observation
USDJPY is in an active up trend. While the price is contained above the three Moving averages acting as parts of the trend indicator attached,. We're looking for long term buy orders. The main idea is to wait for either a break above the previous week's highest high 108.223 or a retracement back towards 106.871-106.724 to pick a low risk buy orders. And in case the price breaks below 106.724, then this will be an ideal place to pick a low risk sell order towards 105.16, on its way to the lowerside, the key lines to look for include 106.405, 105.955 and 105.500.
Trade Recommendations:
Rebuy USDJPY from 106.825 with your target at 108.220.