We're short within 113.66-113.62 | 15 November 2018

15 November 2018, USD/JPY

We're short within 113.66-113.62

Technical observation

The general trend for the pair on the hourly chart above is downwards. Price went below a key supportive zone 113.66-113.62 then corrected to the just broken zone and went down but not for long and is currently rallying below it.I expect another retracement to the zone and a rejection within it for possible bearish momentum towards 113.05, in case of a break below 113.05, wait for a correction to it confirming further bearish momentum before you continue short towards 112.62 or even lower to the lowest support 112.19.As long as price remains below 113.66-113.62, only short positions look ideal and may be advisable.

Trade recommendation

Wait for a correction to 113.66-113.62 to sell USD/JPY.

Do you know against which currencies JPY is the most profitable?

We're short within 113.66-113.62

More trading assets here...

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .