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Remain short

Remain short | 22 January 2019

22 January 2019, USD/JPY

Remain short

Technical observation

Recently price bounce within a resistance zone 109.88-109.64 and it is currently rallying towards a support 107.34.In case you sold this pair within the above mentioned zone after a bounce remain in the trade with your take profit at 107.34 and stop loss at 110.72.If you had not sold this pair you can still pick short position now with your ideal target at 107.34.Should there be a clear breakout below 107.34 with a big red candle then more bearish price movements will be anticipated towards the support 104.61. As long as this USD is contained below the resistance zone 109.88-109.64 only short positions can be recommended on the daily chart above.

Trade recommendation

Remain short with your take profit at 107.34 and stop loss at 110.72.

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Imelda Maseno
Analyst of «FreshForex» company
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