Wait for a correction to sell USD. | 21 June 2019

21 June 2019, USD/JPY

Wait for a correction to sell USD.

Technical observation

On the daily chart above, price declined and penetrated below a support 107.64 with a big red candle and is still rallying downwards. My expectation is a pullback to the just broken line followed by a rejection within it for a surge to the lower side. Wait for a correction to the line 107.64 and a rejection of price at it to sell USD with your take profit at 105.26 and stop loss at 108.37, if this take profit is hit and there’s a clear break below it, wait for a retracement and a bounce at it confirming further bearish price rally before you sell this pair. As it is on the daily chart above, only short positions look ideal and may be recommended.
Trade recommendation
Wait for a correction to sell USD.
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