USDJPY / 4H / Price trying to push thru resistance near 109.80

2020-01-13 13:17:38

Hi Traders,

In this article, I will be looking at some key levels on USDJPY pair.

USDJPY price has been trading roughly between 107.90 and 109.80 for since November 2019. Currently price is approaching the top of this range. We are preparing for a break of the resistance above with a potential target near 110.50.

However if price failed to break out and dropped below the 200MA, we will look for a potential reversal trade with possible price retesting previous low near 107.90 and further beyond.

Gordon @GoreStreetForex