Forex Technical Analysis: Trend potential – Sell a break below 108.43.


Technical Observation

Last week, USDJPY established a support around 108.43. This is a key support even on the higher time frame. And while the price is not able to clearly break and close below the level 108.43, I expect further momentum to the lower side. This bearish rally is supported by the fact that the MACD Column and the Signal line are below 0.0. And while this is true, I’m waiting for a break below the daily low 1087.43 to pick a sell or a retracement back towards 108.73 to pick a sell.

Trade Recommendations:

Sell a break below 108.43.

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