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Sell USD within 109.98-109.75

Sell USD within 109.98-109.75 | 04 February 2019

04 February 2019, USD/JPY

Sell USD within 109.98-109.75

Technical observation

USD retraced to the resistance zone 109.98-109.75 and is currently rallying around it.I expect a rejection of price within the zone for possible bearish movements towards 107.43.My advice, wait for the rejection within the above mentioned zone to sell USD with your take profit at 107.43 and stop loss at 110.99, in case of a clear breakout below 107.43 then more downwards momentum towards 104.63 can be expected. Long positions may only be recommended in case of a clear penetration above 109.98-109.75 followed by a pullback to it, but as long as USD is contained below 109.98-109.75 only short positions can be recommended.

Trade recommendation

Sell USD within 109.98-109.75 with your take profit at 107.43 and stop loss at 110.99.

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

Sell USD within 109.98-109.75

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Imelda Maseno
Analyst of «FreshForex» company
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