21 Agustus 2020, USD/JPY
Technical Observation
Yesterday, USDJPY embarked on a serious downtrend and is still very much bearish on the daily chart, According to the weekly chart attached, we are expecting a possible momentum towards 104.624, if the price bounces off from this support, then this will be a good place to consider a possible buy position. And in case the price breaks and closes below it, then we will be expecting further momentum to the lower side with an ultimate target around 100.250. A bounce from 104.624 could push price upwards towards 111.852.
Trade Recommendations:
Wait fora buy from around 104.624.