Wait for a correction to 109.99-109.76 to buy USD. | 15 February 2019
15 February 2019, USD/JPY
Technical observation
USD is correcting itself significantly to the lower side to the zone 109.99-109.76 and as long it remains above this zone we expect a possible momentum to the upper side. As it is on the daily chart above, you can wait for the correction to the above mentioned zone for a clear bounce sign to buy USD with your take profit at 112.63 and stop loss at 108.55.In case price ascend above 112.63, you can wait for a pullback to the just broken key level and a bounce at it to continue long with USD.Short positions may only be recommended should there be a breach below 109.99-109.76 with a big red candle followed by a correction to it.
Trade recommendation
Wait for a correction to 109.99-109.76 to buy USD.
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.
