Remain short towards 109.45. | 28 December 2018
28 December 2018, USD/JPY
Technical observation
USD is declining steadily towards the support 109.45 and my expectation is either a rejection of it at the line followed by a pullback to 111.85 to re-sell USD, or a clear breakout below it followed by a correction to it to pick short positions towards 107.40.I sold this pair at 111.85 and I am holding on to this position with my take profit at 109.45 and stop loss at 112.83. Only short positions look ideal and may be recommended, on your way downwards the key lines to look for include, 109.45, 107.40 and 104.61.Lon positions may only be anticipated should there be a clear penetration above 111.85 with a big green candle followed by a pull back to it.
Trade recommendation
Remain short towards 109.45.
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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.
