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Remain long with your take profit at 114.03

Remain long with your take profit at 114.03 | 05 March 2019

05 March 2019, USD/JPY

Remain long with your take profit at 114.03

Technical observation

USD penetrated above a zone 111.62-111.44 establishing a support, it then corrected to the just broken zone and was rejected before rising. USD is still rallying upwards and i expect more of this movement towards 114.03, if you bought this pair within the above mentioned zone, remain long with your take profit at 114.03 and stop loss at 110.77. In case price does not rally upwards and instead declines to 111.62-111.44 and penetrates below it, wait for a correction to the just broken zone and a bounce within it confirming possible bearish momentum before you sell USD with your take profit at 109.11 and stop loss at 112.18.

Trade recommendation

Remain long with your take profit at 114.03 and stop loss at 110.77.

Imelda Maseno
Analyst of «FreshForex» company
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