Remain neutral | 14 January 2019
14 January 2019, USD/JPY
Trade recommendation
On the weekly chart above price is rallying around a support level marked at 107.79, my expectation is a decline below the level followed by a correction to it confirming possible bearish price rally towards 100.13. You can remain flat and wait for the breakout below the key level and a pull back to it to sell this pair with your take profit at 100.13 and stop loss at 111.20, if price does not breakout below 107.79 then I would expect a correction to the resistance zone 115.43-114.56 and a rejection within it to re-sell USD with your take profit at 107.90 and stop loss at 118.55.Long positions may only be advisable above the zone 115.43-114.56.
Trade recommendation
Remain flat.
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.
