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Remain long with your take profit at 112.63

Remain long with your take profit at 112.63 | 27 Marzo 2019

27 Marzo 2019, USD/JPY

Remain long with your take profit at 112.63

Technical observation

USD pulled back to the supportive zone 109.99-109.76 but could not break below it; it was rejected and is currently rallying upwards. I expect bullish momentum towards 112.63 and a possible breach above it for a further rise. In case you bought USD within 109.99-109.76, hold on to that position with your take profit at 112.63 and stop loss at 108.87, continue long after a breach above 112.63 followed by a correction to it.Should there be a clear breakout below 109.99-109.76 with a big red candle followed by a correction to it, bearish price momentum towards the key line 107.35 can be expected or even lower to 104.65.

Trade recommendation

Remain long with your take profit at 112.63 and stop loss at 108.87.

Imelda Maseno
Analyst of «FreshForex» company
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