Remain flat | 14 February 2019
14 February 2019, USD/JPY
Technical observation
For several days now, USD has been rising steadily above the zone 109.99-109.76 and my expectation is a correction to it followed by a bounce for bullish price rally towards 112.63.You can remain flat for now and wait for the pullback to 109.99-109.76 to buy a bounce with your take profit at 112.63 and stop loss at 108.72.In case of a breakout above 112.63, more bullish momentum of this pair can be anticipated. Short positions can only be recommended should there be a clear penetration below 109.99-109.76 with a big red candle followed by a correction to it confirming possible bearish price rally towards 107.35.
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.
