03 Agustus 2021, USD/JPY
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.