Remain short towards 106.58. | 10 January 2019
10 January 2019, USD/JPY
Technical observation
Yesterday USD could not penetrate above 108.90-108.72, price bounced within it and is currently rallying on an increasing bearish momentum towards the key level 106.58.In case of a breach below the level, wait for a confirmation of further bearish price rally before you continue short with USD, but should there be a rejection at it, wait for a correction to the resistance zone 108.90-108.72 and a rejection within it to re-sell USD. If you picked short positions yesterday within 108.90-108.72, remain in the trade with your take profit at 106.58 and stop loss at 109.76.If you had not sold USD yet, remain flat and wait for another correction to 108.90-108.72.
Trade recommendation
Remain short towards 106.58.
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.
