Buy USD within 112.72-112.66 | 21 November 2018
21 November 2018, USD/JPY
Technical observation
USD/JPY broke above a zone 112.72-112.66 then corrected to it before moving up. Right now it is moving on a bearish momentum and I expect a loss of it within the zone followed by possible bullish movement towards 113.09.My advice, wait for a correction to 112.72-112.66 then buy USD within it with your take profit at 113.09 and stop loss at 112.48.On your way upwards the key lines to look for are; 113.09, 113.61 and 114.18, as long as USD is contained above 112.72-112.66, only long positions look ideal and may be recommended. Short positions may only be advisable below 112.66 in case of a clear break with a big red candle and a correction to it.
Trade recommendation
Buy USD within 112.72-112.66 with your take profit at 113.09 and stop loss at 112.48.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
