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Remain flat temporarily.

Remain flat temporarily. | 26 February 2019

26 February 2019, USD/JPY

Remain flat temporarily.

Technical observation

Despite the correction to the lower side, USD is still above the zone 109.99-109.76, I expect more downward momentum to the lower side and a loss of it within 109.99-109.76 for bullish price rally towards 112.63.You can remain flat temporarily and wait for the correction to 109.99-109.76 and a rejection within it to buy USD with your take profit at 112.63 and stop loss at 108.89.Short positions may only be recommended in case of a clear penetration below 109.99-109.76 with a big red candle followed by a correction and a rejection within it.Right now as long as USD is contained above 109.99-109.76, only long positions can be advisable.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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