Buy USD now | 29 January 2019
29 January 2019, USD/JPY
Technical observation
USD could not penetrate below the zone 109.25-109.09 and I expect bullish momentum towards the key level 111.45 followed by a breakout above it for a further rise in price. You can pick long positions now within the zone with your take profit at 111.4 and stop loss at 108.34, in case of clear breach above 111.45, wait for a correction to it confirming further bullish price rally before you continue long with USD towards the resistance 113.71.As long as price is contained above 09.25-109.09 only long positions can be recommended. Short positions may only be advisable in case of a clear penetration below 109.09 towards 106.96.
Trade recommendation
Buy USD now with your take profit at 111.4 and stop loss at 108.34,
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.
