Forex Technical Analysis: Trend potential – Wait for a sell from 108.569.

USDJPY – Down

Wait for a sell from 108.569.

Technical Observation:
According to the weekly chart attached, USDJPY is currently rallying around a very significant resistance 108.569. This is a key level and while the price is not able to clearly breakout above it with a big green candle, it remains to be a sell place. The ideal is to wait for a clear sell signal on a lesser time frame such as the hourly chart or 30 minutes chart. If price goes above this level, then expect further momentum even higher with the next ideal target being 114.019.
Trade Recommendation:
Wait for a sell from 108.569.

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