07.07.202007:01 Forex Analysis & Reviews: USD/JPY broke out of trend line, potential for further drop

Exchange Rates 07.07.2020 analysis

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.

Dean Leo,
Analytical expert of InstaForex
© 2007-2021
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