Sell USD within 109.88-109.64 | 23 January 2019
23 January 2019, USD/JPY
Technical observation
Yesterday USD rallied down but closed just below the zone 109.88-109.64 it is now retracing to the zone and I expect a rejection within it to sell USD with my take profit at 107.34 and stop loss at 110.72, in case you sold this pair yesterday within 109.88-109.64 you can still hold on to that positions since we expect more bearish momentum towards 107.34, or even lower to 104.61.Long positions may only be recommended above 109.88-109.64 towards the resistance level marked at 114.52 in case of a clear breach above it with a big green candle followed by a correction to it confirming possible upwards movement of price.
Trade recommendation
Sell USD within 109.88-109.64 with your take profit at 107.34 and stop loss at 110.72.
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.
