USDJPY Forex Analysis for May 27th 2019
The price action of USDJPY pair has been trading with a bearish bias inside fifteen minutes chart and the down trend looks good. Price action is stepping down, and bearish trend looks quite strong. Key resistance level is present at 109.74 price area, based on most recent swing high in 15 minutes chart of USDJPY.
For the Japanese Yen on Friday, there was no critical outstanding news announcement. According to the Forex analysis; USDJPY bearish trend could move price towards next support target at 109.20 with reference to the down trend, Forex traders should consider only sell trades. However; price could breaks and closes a bullish candlestick above 109.74 important resistance level then this will end the bearish trend. From this time forward, Forex traders must seize the opportunity to stop trading and re-assess USDJPY in 15 minutes time frame.
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