Wait for a retracement to 110.85 to sell USD. | 06 May 2019

06 May 2019, USD/JPY

Wait for a retracement to 110.85 to sell USD.Wait for a retracement to 110.85 to sell USD.

Technical observation

On the 4 hour chart above, USD gapped to the lower side penetrating below a supportive level 110.85, currently price is trading on an increasing bullish bias towards the just broken key line and my expectation is a bounce at it for bearish momentum towards the key level 110.02.My advice, wait for a retracement to 110.85 and a rejection at it to short this pair with your take profit at 110.02 and stop loss at 110.07, should there be a clear penetration below 110.02, wait for a retracement to the just broken line and a rejection at it to confirm further bearish movements of price before you continue short with USD.

Trade recommendation

Wait for a retracement to 110.85 to sell USD.

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.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus