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Remain flat temporarily.

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
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