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MA Bearish Cross Over

MA Bearish Cross Over | 21 August 2018

21 August 2018, USD/JPY

MA Bearish Cross Over

Technical Observation

As opposed to EUR and GBP, USD actually went below the three Simple Moving Averages. This is a bearish sign, and while the price is below the Three Simple Moving Averages, I expect a possible surge to the lower side with my ideal take profit at 106.25. On its way to the lowerside, the key lines to check for possible bounce include 108.45, 17.55 and 105.80. If these lines are clear broken, then further rally to the lower side is expected. You could place a pending sell limit order at 110.85 and stop loss above 111.40.

Trade Signal.

Short USD

101% Double the volume

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Imelda Maseno
Analyst of «FreshForex» company
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