Buy USD within 109.99-109.76 | 28 March 2019
28 March 2019, USD/JPY
Technical observation
Yesterday USD did not rise as predicted but instead declined towards the zone 109.99-109.76, it is still rallying on an increasing bearish bias around the zone and I expect a loss of this movement within it for upwards momentum of USD .If you’re not in a trade right now, wait for a bounce within the zone to buy this pair with your take profit at 112.63 and stop loss at 109.00, in case price is not rejected within 109.99-109.76 but instead breaks below it with a big red candle, wait for a retracement to the just broken zone and a rejection within it before you sell USD with your take profit at 107.35 and stop loss at 110.63.
Trade recommendation
Buy USD within 109.99-109.76 with your take profit at 112.63 and stop loss at 109.00.
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.
