Remain long | 18 February 2020

18 February 2020, USD/JPY

Remain long

Technical observation

Yesterday USD went up with a few pips and I still expect more of this bullish movement today towards the key level 112.19 followed by a possible penetration above it. If you went long within the zone 109.76-109.62 after a bounce, remain in the trade with your take profit at 112.19 and stop loss at 108.98. If you are not in a trade yet, wait for either another correction to the zone mentioned above followed by a rejection within it to buy this pair, or, a breakout above 112.19 followed by a correction to it to buy. Bearish movements may only be expected below the zone 109.76-109.62 towards 107.06.

Trade recommendation

Remain long with your take profit at 112.19.

Imelda Maseno
Analyst of «FreshForex» company
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