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Remain flat.

Remain flat. | 10 June 2019

10 June 2019, USD/JPY

Remain flat.

Technical observation

On the 4hour chart above, USD penetrated above a resistance zone it established around 108.49-108.39 and is currently trading on an increasing bearish momentum above it, I expect a loss of this downwards movement within the zone for possible upwards rally towards the level 109.70.Remain flat temporarily and wait for a correction to the zone 108.49-108.39 and a rejection within it to buy USD with your take profit at 109.70 and stop loss at 108.07.In case price is not rejected within 108.49-108.39 but instead breaks below it then the penetration above the zone was false and bearish momentum can be anticipated.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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