Wait for a correction | 08 Noviembre 2018

08 Noviembre 2018, USD/JPY

Wait for a correction

Technical observation

USD/JPY is still rising towards the resistance line 114.53 and I expect a bounce at it followed by a retracement to the key supportive zone 112.00-111.76.I expect a rejection of price within the just mentioned zone followed by possible bullish momentum towards 114.53 and a possible break above it for further bullish momentum of USD, I bought this pair within 112.00-111.76 and right now I’m looking to pick my profits at 114.53.If you had not bought this pair yet, my advice, wait for a correction to the above mentioned zone then pick long positions within it with your take profit at 114.53 and stop loss slightly below 111.76.

Trade recommendation

Wait for a correction to 112.00-111.76 to re-buy USD.

Do you know against which currencies JPY is the most profitable?

Wait for a correction

More trading assets here...

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.