Remain flat temporarily. | 14 March 2019

14 March 2019, USD/JPY

Remain flat temporarily.

Technical observation

USD is currently rallying on an increasing bullish momentum below a resistance zone 111.67-111.62, I expect a rise to the zone followed by a rejection of price within it for bearish momentum towards the key line 110.93 and a possible breakout below it for a further decline in price towards 110.34.Remain flat temporarily and wait for a bounce within 111.67-111.62 to sell USD with your take profit at 110.93 and stop loss at 111.79.In case of a break above 111.67-111.62, wait for a correction to the just broken zone and a bounce within it confirming possible bullish momentum of USD before you pick long positions.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .