Remain flat | 17 Diciembre 2018

17 Diciembre 2018, USD/JPY

Remain flat

Technical observation

On the weekly chart above price is rallying below a resistance zone 114.52-113.71, my expectation is a either a rejection within the zone for possible bearish momentum towards 106.20 or a clear penetration above the zone with a big green candle followed by correction to it for possible bullish price rally towards 122.82.I would advise you remain flat temporarily and wait for either a pullback to 114.52-113.71 and a rejection within it to sell USD with your take profit at 106.20 and stop loss at 117.58 or a penetration above the zone with a big green candle followed by correction to it to pick long position with your take profit at the resistance 122.82.

Trade recommendation

Remain flat.

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Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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