Buy USDJPY towards 112.00. | 03 Agustus 2021

03 Agustus 2021, USD/JPY

Buy USDJPY towards 112.00.

Technical Observation

USDJPY bounced off from the lower trendline but is yet to show any clear moves to the upper side. As it is right now, I expect nothing but a possible rally much higher and should break above the upper trendline towards 112.90. Should the price breaks the lower trendline, then we will be looking for a possible rally much lower towards 107.435 and may continue much lower. If you are on this chart now, we are looking for long term buy positions towards 112.00.

Trade Recommendations:

Buy USDJPY towards 112.00.

Imelda Maseno
Analyst of «FreshForex» company
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