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Flat for now.

Flat for now. | 20 March 2019

20 March 2019, USD/JPY

Technical Observation

Usd is currently trading with a converging wedge formation. We took a long position following the bounce from the lower trendline and is still holding. My expectation is that the price should continue to rise towards the upper trendline. ON its way upwards, the only hurdle is at 111.992, and should price violate it , then I expect a surge higher but should not close above the upper trendline . A close above this trendline will push the price even higher with the next ideal take profit at 117.590, the next take profit at 123.755.

Trade Signal

Flat for now.

Imelda Maseno
Analyst of «FreshForex» company
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