Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
USD/JPY holding near key support
2019-11-11 • Updated
USD/JPY is hovering around a key support area in the 105.68 level, which coincides with the Fibonacci level of 78.6%. There is a kind of double bottom pattern in formation that could allow more gains across the board and if the pair manages to resume the bullish structure, the next target would be the -23.6% Fibonacci area at 107.78. To the downside, the nearest support lies at 105.24, ahead of the psychological level of 105.00.
RSI indicator stays in the negative territory.
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Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...