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Wait and Buy Usdjpy from 111.10.

Wait and Buy Usdjpy from 111.10. | 07 March 2019

07 March 2019, USD/JPY

Wait and Buy Usdjpy from 111.10.

Technical Observation

The US Dollar is in an overall up trend. While the price is above the Simple Moving Average (100) and also above the line 111.10, I expect further acceleration to the upper side. On the hourly chart I'm looking at, I expect a retracement back to the line 111.10 to pick a buy order at the least risk possible. Conservative traders can place pending buy limit orders at 111.10, stop loss below 110.6 and take profit at 114.00. I will only settle for a sell should price end up breaking below the hourly support line 111.10.

Trade Signal.

Wait and Buy Usdjpy from 111.10.

Imelda Maseno
Analyst of «FreshForex» company
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