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Remain long with your take profit at 112.66

Remain long with your take profit at 112.66 | 23 April 2019

23 April 2019, USD/JPY

Remain long with your take profit at 112.66

Technical observation

USD corrected to a supportive zone it established around 111.76-111.69 but could not break below it and was rejected before moving up, USD continues to increase in value and I expect more of this bullish movement towards 112.66. If you bought USD within 111.76-111.69 after a bounce, hold on to that position with your take profit at 112.66 and stop loss at 111.47, if you are not in a trade yet, wait for another retracement to 111.76-111.69 to buy USD.As long as this pair is contained above the zone 111.76-111.69, only bullish momentum of price can be anticipated. Short positions may only be recommended below 111.76-111.69.

Trade recommendation

Remain long with your take profit at 112.66 and stop loss at 111.47.

Imelda Maseno
Analyst of «FreshForex» company
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