Re-sell within 108.81-108.62 | 27 June 2019

27 June 2019, USD/JPY

Re-sell within 108.81-108.62

Technical observation

USD is rising steadily towards a zone it established around 108.81-108.62 and I expect this upward rally to stop within it for bearish movements towards 106.46. Wait for a correction to the above mentioned zone to sell re-sell USD with your take profit at 106.46 and stop loss at 109.62, if this take profit is hit and there’s a clear breach below it, wait for a pullback to the just broken line confirming further downward movements of price before you continue short with this pair towards the key level 104.63. On the daily chart above, as long as USD is contained below 108.81-108.62 only short positions may be recommended.

Trade recommendation

Wait for a retracement to 108.81-108.62 to sell USD.

Imelda Maseno
Analyst of «FreshForex» company
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