USDJPY January, 27 2020

Technical Analysis
Monday, January 27, 2020 - 13:17
Point Trader Group
USDJPY January, 27 2020

Overview:

The chart above shows that the pair is trading inside a bullish channel, which enhances the chances of the bullishness during the coming period, but with conditions

Expected:

We will wait for the pair to reach the bottom border of the bullish channel, specifically the highest support level of 108.30 and from there we may buy to target this level 109 if some positive signs appear.

Alternative Scenario:

On the other hand, we see that breaching the aforementioned support levels might push the pair down to 107.80

 

Resistance109.00109.20109.50
Support108.30108.00107.80

 


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