Forex Technical Analysis: Trend potential – Buy USDJPY with your tp at 108.928.

USDJPY – Down

Buy USDJPY with your tp at 108.928.

Technical Observation

According to the 4 hour chart attached, USDJPY failed to sustain the break below the level 108.380, instead, the pair bounced off from this level and is currently heading to the upperside. Following this bounce, we;’re expecting a possible acceleration to the upper side and should head straight towards the daily higher high 108.928. In case the daily high is broken, then further momentum to the upper side is expected with the next ideal target being 110.00. A break above this target could push the price even higher.

Trade Recommendations:

Buy USDJPY with your tp at 108.928.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.