Forex Technical Analysis: Trend potential – Sell USDJPY



Technical observation:
On Monday, USD gaped below a daily support 111.00 and is still below this line. For me, this gap means that the sellers are on the lead, and therefore, while the price is still below 111.00, I expect a surge to the lowerside, . On its way to the lowerside, the key lines to look for include 110.23, 109.21, and 108. If these lines are broken, then further bearish rally is expected with another ideal take profit at 104. As it is on the 4 hour chart, only a sell looks ideal.. As it is on 4 hour chart, a good sell can be seen around 110.02.
Trade Signal.

101% Double the volume

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