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Wait for a correction to sell USD.

Wait for a correction to sell USD. | 21 Junio 2019

21 Junio 2019, USD/JPY

Wait for a correction to sell USD.

Technical observation

On the daily chart above, price declined and penetrated below a support 107.64 with a big red candle and is still rallying downwards. My expectation is a pullback to the just broken line followed by a rejection within it for a surge to the lower side. Wait for a correction to the line 107.64 and a rejection of price at it to sell USD with your take profit at 105.26 and stop loss at 108.37, if this take profit is hit and there’s a clear break below it, wait for a retracement and a bounce at it confirming further bearish price rally before you sell this pair. As it is on the daily chart above, only short positions look ideal and may be recommended.
Trade recommendation
Wait for a correction to sell USD.
Imelda Maseno
Analyst of «FreshForex» company
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