Wait for a correction to 110.16-109.98 to buy USD. | 19 February 2019
19 February 2019, USD/JPY
Technical observation
USD is currently trading above a key supportive zone 110.16-109.98, we expect a correction to the zone and a rejection within it for upwards movement towards 112.35.You can wait for a pullback to the above mentioned zone and a bounce within it to buy USD with your take profit at 112.35 and stop loss at 109.16, Continue long with USD in case of a break above 112.35 followed by a correction and a rejection at it. With USD contained above 110.16-109.98, only long positions can be recommended, short positions may only be advisable in case of a clear breakout below 110.16-109.98 with a big red candle followed by a correction to it.
Trade recommendation
Wait for a correction to 110.16-109.98 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.
