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Buy USD within 112.72-112.66

Buy USD within 112.72-112.66 | 21 November 2018

21 November 2018, USD/JPY

Buy USD within 112.72-112.66

Technical observation

USD/JPY broke above a zone 112.72-112.66 then corrected to it before moving up. Right now it is moving on a bearish momentum and I expect a loss of it within the zone followed by possible bullish movement towards 113.09.My advice, wait for a correction to 112.72-112.66 then buy USD within it with your take profit at 113.09 and stop loss at 112.48.On your way upwards the key lines to look for are; 113.09, 113.61 and 114.18, as long as USD is contained above 112.72-112.66, only long positions look ideal and may be recommended. Short positions may only be advisable below 112.66 in case of a clear break with a big red candle and a correction to it.

Trade recommendation

Buy USD within 112.72-112.66 with your take profit at 113.09 and stop loss at 112.48.

Do you know against which currencies JPY is the most profitable?

Buy USD within 112.72-112.66

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Imelda Maseno
Analyst of «FreshForex» company
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