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Remain long with your take profit at 111.91

Remain long with your take profit at 111.91 | 01 April 2019

01 April 2019, USD/JPY

Remain long with your take profit at 111.91

Technical observation

Following the bounce within the supportive zone 109.99-109.76, USD has been rising towards 111.91 and my expectation is either a bounce at this line or a clear breach above it.In case of a rejection at 111.91, wait for another correction to 109.99-109.76 and a bounce within it to re-buy USD with your take profit still at 111.91 and stop loss at 109.04.However, should there be a clear breakout above 111.91 with a big green candle, wait for a correction to the just broken line and a bounce at it before you buy USD with your take profit at 114.07. As long as price is contained above 109.99-109.76, only long positions may be advisable.

Trade recommendation

Remain long with your take profit at 111.91 and stop loss at 109.12.

Imelda Maseno
Analyst of «FreshForex» company
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