07 Oktober 2019, USD/JPY
Technical Observation
Last week, USDJPY declined intensely and is still very much bearish both on hourly chart attached. While the price is contained below the 50.0% fib level, I recommend looking for long term sell orders. On the hourly chart attached, I'm expecting a break below the daily low of 106.480 to pick a long term sell order towards 105.10 and could breakout even lower. On this chart, a retracementb back towards either 61.8% fib level, 107.239, or 50.0% fib level, 107.475 will provide a good place to look for sell.
Trade Recommendations:
Sell USDJPY from 107.474.