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Sell a break below 23.6% fib level.

Sell a break below 23.6% fib level. | 22 November 2019

22 November 2019, USD/JPY

Technical Observation

After establishing a swing low around 108.285, USDJPY retraced back to the upperside but could not break above the 61.8% fib level, following the bounce from this fib level, the USDJPY rallied to the lowerside but could not go beyond the swing low, I expect a possible momentum to the lowerside and could break below the swing low 108.285 towards 105.00 or even lower. A break above 38.2% fib level will mean the price is continue to the upperside towards 50.0% fib level and could continue much higher.

Trade Recommendations:

Sell a break below 23.6% fib level.

Imelda Maseno
Analyst of «FreshForex» company
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