Remain short with your take profit at 110.39 | 21 February 2019
21 February 2019, USD/JPY
Technical observation
USD rose significantly to the upper side breaking above a key zone 110.87-110.84, it could not be contained above the zone and penetrated below it before correcting to it severally, currently USD is moving downwards and I expect more bearish momentum to the lower side to 110.39 and a break below it for a further decline in price towards 109.94.If you sold this pair within 110.87-110.84, hold on to that position with your take profit at 110.39 and stop loss at 110.98.Continue short with USD after a break below 110.39 and a correction to it confirming further bearish momentum. Only short can be recommended.
Trade recommendation
Remain short with your take profit at 110.39 and stop loss at 110.98.
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.
