Forex Technical Analysis: Trend potential – Buy from 108.440 usdjpy with your take profit at 111.868.

USDJPY – Down

Buy from 108.440 usdjpy with your take profit at 111.868.

Technical Observation

The key levels on this chart include 108.440, 111.868 and 114.126. While the price is contained within 108.440-111.868, we’re waiting for a reversal from either 108.440 to pick a buy, or a bounce from 111.868 to pick a sell. Since the previous week’s candle was a bullish pin bar, we’re expecting a rise towards 111.868, and should price breakout above this level, I’ll expect a momentum towards 114.126, and should price breakout below 108.440, then this will be a good place to look for a sell.

Trade Signal.

Buy from 108.440 usdjpy with your take profit at 111.868.

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