Remain neutral temporarily. | 28 Enero 2019

28 Enero 2019, USD/JPY

Remain neutral temporarily.

Technical observation

On the 4hour chart above, price is declining steadily towards a supportive zone 109.09-108.93, my expectation is a rejection within it followed by possible bullish price rally towards 111.45, you can remain neutral temporarily and wait for a bounce within 109.09-108.93 to buy USD with your take profit at 111.45 and stop loss at 108.25.If there is a breakout above 111.45 more bullish price rally will be expected towards 113.71.In case of a clear penetration below 108.93 wait for a correction to it confirming possible bearish price rally before you sell USD.Right now as long as it is contained above 109.09-108.93 only long positions can be advisable.

Trade recommendation

Remain neutral temporarily.

BECOME FRESHFOREX ANALYST!

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.