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Remain long

Remain long | 19 September 2018

19 September 2018, USD/JPY

Remain long

Technical observation

USD/JPY is still rising towards the resistance 112.53,I expect either a rejection around it followed by a correction to the supportive zone 111.79-111.72 or a breakout it with a big green candle followed by a correction to it for upwards movement of price. Wait for the correction to 111.79-111.72 to re-buy USD with your take profit still at 112.53 and stop loss slightly below 111.72.In case of a breakout above the line 112.53 with a big green candle, wait for a correction to it confirming bullish momentum of price before you pick long positions. Only long positions look ideal and can be recommended on the 4Hour chart above.

Technical levels

Resistance levels

R1.111.02

R2.112.03

R3.112.07

Pivot

111.103

Support levels

S1.111.97

S2.111.95

S3.111.91

Trade signal

Remain long.

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Remain long

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Imelda Maseno
Analyst of «FreshForex» company
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