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Remain flat

Remain flat | 19 December 2018

19 December 2018, USD/JPY

Remain flat

Technical observation

USD/JPY is still declining steadily towards the support 111.85, I expect either a loss of this movement at the line followed by a correction to the key resistance zone 113.78-113.63, or a penetration below the line with a big red candle and a correction to it for further bearish momentum, I sold this pair within 113.78-113.63 and I’m looking to pick my profits at 111.85.If you are not in a trade yet, you can remain flat for now and wait for either another retracement to 113.78-113.63 or a clear breakout below 111.85 and a correction to it to sell USD. On your way downwards the key lines to look for include, 111.85, 109.45, 107.40 and 104.61.

Trade recommendation

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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