Remain short | 10 December 2018
10 December 2018, USD/JPY
Technical observation
USD/JPY was rejected within the resistance zone 114.52-113.73 then rallied down. Price is still moving on bearish momentum and I expect a decline towards the key level 107.02 and a breakout below it for a further decline in price towards the lower key level 100.23.I sold this pair within the zone 114.52-113.73 and I’m holding on to this position with my take profit at 107.02 and stop loss at 118.73.In case of a breach below 107.02, wait for a correction to it confirming further bearish momentum of USD before you continue short with this pair. Long positions may only be recommended above 114.52-113.73 towards 112.82.
Trade recommendation
Remain short.
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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.
