Remain flat | 07 January 2019

07 January 2019, USD/JPY

Remain flat

Technical observation

USD has been declining steadily towards the support level 107.82, right now price is rallying around it and my expectation is either a clear penetration below it with a big red candle, or a bounce at it followed by a correction to the zone 114.78-114.06, In case you sold this pair within 114.78-114.06 you can pick your profits now at 107.82. If you had not sold this pair yet, you can wait for either a breakout below 107.82 followed by a correction to it to sell USD with your take profit at 100.03 and stop loss at 110.32, or a correction to 114.78-114.06 and a bounce within it to re-sell USD with your take profit still at 107.82 and stop loss at 117.50.

Trade recommendation

Remain flat.

Be the first to get $5 for participation in the webinar 8.30 GMT!

BECOME FRESHFOREX ANALYST!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .