Wait for a correction to 110.33-110.15 to buy USD. | 28 February 2019
28 February 2019, USD/JPY
Technical observation
USD is retracing towards a supportive zone it established around 110.33-110.15 and i expect a bounce within the zone for bullish momentum towards 112.62.Wait for the decline to 110.33-110.15 and a close within it to buy USD with your take profit at 112.62 and stop loss at 109.64.In case of a clear break above 112.62, wait for a correction to it and a rejection confirming further bullish price rally before you continue long with USD.AS it is on the 4 hour chart above, as long as price is contained above the zone 110.33-110.15 only long positions look ideal and may be advisable, short positions may only be recommended below 110.33-110.15.
Trade recommendation
Wait for a correction to 110.33-110.15 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.
