We're short | 05 July 2019

05 July 2019, USD/JPY

We're short

Technical observation

USD is trading below a resistance zone 108.75-108.57 and I expect it to decline towards the key level 106.45 followed by a breakout below it with a big red candle for a further surge to the lower side. If you sold USD within the zone 108.75-108.57 after a bounce, remain short with your take profit at 106.45 and stop loss at 109.61, however, if you are currently neutral remain so and wait for either another correction to 108.75-108.57 and a bounce within it or a clear break below 106.45 followed by a retracement and a rejection at it to sell this pair. Long positions may only be recommended above 108.75-108.57.

Trade recommendation

Remain short.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus