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Remain short

Remain short | 21 August 2019

21 August 2019, USD/JPY

Remain short

Technical observation

Yesterday USD went down as had been predicted but not for long, I still expect more bearish movements today towards the supportive level 104.64 and a clear penetration below it. If you sold this pair yesterday at 106.77 after a rejection, hold on to that position with your take profit at 106.64 and stop loss at 107.56. However, if you are flat currently, remain so and wait for either another correction to 106.77 and a bounce at it or, a clear breakout below 104.64 followed by a retracement to it to sell USD. As long the pair on the daily chart above is contained below the key level 106.77 only short positions can be recommended.

Trade recommendation

Remain short with your take profit at 106.64 and stop loss at 107.56.

Imelda Maseno
Analyst of «FreshForex» company
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