Sell USD within 109.99-109.76 | 11 February 2019
11 February 2019, USD/JPY
Technical observation
USD established a resistance zone around 109.99-109.76 and is currently rallying within it, bearish momentum of price towards 107.37 and a possible breakout below it followed by further bearish movement towards 104.65 can be expected. Sell this pair within the above mentioned zone after a rejection with your first take profit at 107.35 and the next at 104.65 and your stop loss at 110.97.Should there be a clear breakout above 109.99 followed by a correction to it then bullish price rally towards 112.50 can be expected. In case of a breach above 112.50, more bearish momentum of the pair on the daily chart above can be anticipated.
Trade recommendation
Sell USD within 109.99-109.76 with your take profit at 107.35 and stop loss at 110.97.
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.
