We're long within 111.63-111.40 | 22 November 2018
22 November 2018, USD/JPY
Technical observation
USD/JPY is rallying on an upward trend with several retracements at the key supportive zone 111.63-111.40, currently, price is moving on a bearish momentum towards the zone and I expect a rejection within it for bullish movements of USD towards 114.52 and a possible breakout above it for a further rise in price. I’m looking to buy this pair within the above mentioned zone with my take profit at 114.52 and stop loss at 110.36.In case of a clear penetration below 111.40 with a big red candle, wait for a correction to it confirming bearish momentum of USD before you pick short positions with your ideal target at the supportive line 107.78.
Trade signal
Buy USD/JPY within 111.63-111.40 with your take profit at 114.52 and stop loss at 110.36.
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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.
