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Re-sell at 109.68

Re-sell at 109.68 | 30 May 2019

30 May 2019, USD/JPY

Re-sell at 109.68

Technical observation

On the 4 hour chart above price corrected itself to the line 109.68 and was rejected at it before declining for a few hours, it is currently rising to the same level and I expect a bounce at it for bearish momentum towards the level 108.68 and a possible breakout below it for a further decline in price towards 107.51.Wait for the retracement to 109.68 and a rejection at it to sell USD with your take profit at 108.68 and stop loss at 109.92, in case this take profit is hit and there’s a clear breach below it, continue short with this pair after a correction and a rejection at the just broken line confirming further bearish rally.

Trade recommendation

Sell USD at 109.68 with your take profit at 108.68 and stop loss at 109.92.

Imelda Maseno
Analyst of «FreshForex» company
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