FX.co - USD/JPY broke out of trend line, potential for further drop

2020-07-07T05:01:39

Relevance until2020-07-08

Trading Recommendation

Entry: 107.674

Reason for Entry: Horizontal overlap resistance and 50% fibonacci retracement

Take Profit: 106.830

Reason for Take Profit: Horizontal swing low support, 78.6% fibonacci retracement

Stop Loss: 108.080

Reason for Take Profit: Horizontal swing high resistance, 78.6% fibonacci retracement

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ USD/JPY broke out of trend line, potential for further drop