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Remain short

Remain short | 13 June 2019

13 June 2019, USD/JPY

Technical observation

Following the rejection within the zone 108.99-108.79, USD went down yesterday and I still expect more bearish rally today towards the line 106.47, if you sold this pair within 108.99-108.79 after a rejection, hold on to that position with your take profit at 106.47 and stop loss at 109.75. In case this take profit is hit and there’s a clear breach below it then more bearish price rally can be expected. On the daily chart above only short positions look ideal and may be recommended, long positions may only be advisable should there be a clear breakout above 108.99-108.79 followed by a retracement and a rejection within it.

Trade recommendation

Remain short with your take profit at 106.47 and stop loss at 109.75

Imelda Maseno
Analyst of «FreshForex» company
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