Buy a break above last week's highest high. | 13 Desember 2019

13 Desember 2019, USD/JPY

Technical Observation

Yesterday, USDJPY moved significantly to the upper side and is still bullish both on the daily and on the weekly charts. Following the bounce from the weekly support 107.95, we choose to remain long, we expecting price to proceed even higher towards the upper trendline but should not breakout any higher. On this chart, should the price break above the recent highest high, then this will give us a good place to pick a long term buy order. Alternatively, the price could pullback towards 107.95 to pick a low risk buy order.

Trade Recommendations:

Buy a break above last week's highest high.

Imelda Maseno
Analyst of «FreshForex» company
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