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Remain long

Remain long | 04 March 2019

04 March 2019, USD/JPY

Remain long

Technical observation

Following the bounce within the support 110.41-110.22, USD has been rising steadily towards 113.65, I expect a rise to the level and a possible breakout above it for a further rise in price. If you bought this pair within 110.41-110.22, remain long with your take profit at 113.65 and stop loss at 109.31, if you had not picked long position yet, wait for either another correction to 110.41-110.22 and a rejection within it to buy USD or a clear penetration above 113.65 followed by a correction to it to buy. As previously stated, as long as this pair is contained above the zone 110.41-110.22, only long positions look ideal and may be recommended.

Trade recommendation

Remain long with your take profit at 113.65 and stop loss at 109.31.

Imelda Maseno
Analyst of «FreshForex» company
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