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Remain short towards 109.45

Remain short towards 109.45 | 09 May 2019

09 May 2019, USD/JPY

Remain short towards 109.45

Technical observation

Following the breakout below the line 110.15, USD corrected itself to it and could not penetrate above it, right now it is rallying on an increasing bearish momentum and I expect this movement to continue towards the line 109.45, in case you sold this pair at 110.15 after a bounce, hold on to that position with your take profit at 109.45 and stop loss at 110.33, if you are not in a trade yet, wait for another retracement to 110.15 or a clear breach below 109.45 followed by a correction to it to sell USD. At the moment on the 4 hour chart above, buy positions look a bit risky and may not be recommended for the pair.

Trade recommendation

Remain short towards the level 109.45

Imelda Maseno
Analyst of «FreshForex» company
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