Buy USD now | 30 January 2019
30 January 2019, USD/JPY
Technical observation
Yesterday USD rose for a few hours before declining towards the zone 109.25-109.09 it could not penetrate below the zone and was rejected. Right now it is moving on an increasing bullish momentum and I expect a rise towards the resistance level 111.45.In case you already went long within zone 109.25-109.09 you can hold on to that position with your take profit at 111.45, but if you had not bought this pair yet, you can pick long position now with your take profit at 111.45 and stop loss at 108.44.Should there be a penetration below 109.09 then short positions can be anticipated towards the support level marked at 106.96.
Trade recommendation
Buy USD now with your take profit at 111.45 and stop loss at 108.44.
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.
