We're short within 113.66-113.62 | 15 Noviembre 2018

15 Noviembre 2018, USD/JPY

We're short within 113.66-113.62

Technical observation

The general trend for the pair on the hourly chart above is downwards. Price went below a key supportive zone 113.66-113.62 then corrected to the just broken zone and went down but not for long and is currently rallying below it.I expect another retracement to the zone and a rejection within it for possible bearish momentum towards 113.05, in case of a break below 113.05, wait for a correction to it confirming further bearish momentum before you continue short towards 112.62 or even lower to the lowest support 112.19.As long as price remains below 113.66-113.62, only short positions look ideal and may be advisable.

Trade recommendation

Wait for a correction to 113.66-113.62 to sell USD/JPY.

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We're short within 113.66-113.62

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Imelda Maseno
Analyst of «FreshForex» company
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