Buy USD/JPY at 113.61 | 28 November 2018
28 November 2018, USD/JPY
Technical observation
In the recent past USD/JPY traded intensely to the upper side and even went above a resistance line 113.61, price is still rallying above the just broken level and as long as it protects the lower side I expect a possible momentum to the upper side. I am waiting for a correction to 113.61 and a bounce at it to pick long positions on the second retracement with my take profit at 114.5 and stop loss at 113.28.In case of a clear break above 114.52 with a big green candle, I’ll wait for a pullback to it confirming possible further bullish movements of USD before i continue long with this pair. Only long positions can be advisable on the chart above.
Trade recommendation
Buy USD/JPY at 113.61 with your take profit at 114.5 and stop loss at 113.28.
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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.
