FX.co - USDJPY facing bearish pressure, potential for further drop

7 August 2020 at 4:04AM (UTC+0)

Relevance until8 August 2020 at 4:04AM (UTC+0)

Trading Recommendation

Entry: 106.541

Reason for Entry: 61.8% fibonacci retracement and horizontal overlap resistance

Take Profit: 104.274

Reason for Take Profit: Horizontal swing low support

Stop Loss: 107.330

Reason for Stop Loss: Horizontal swing high resistance

*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 ★ USDJPY facing bearish pressure, potential for further drop