Remain long with your take profit at 111.91 | 01 April 2019

01 April 2019, USD/JPY

Remain long with your take profit at 111.91

Technical observation

Following the bounce within the supportive zone 109.99-109.76, USD has been rising towards 111.91 and my expectation is either a bounce at this line or a clear breach above it.In case of a rejection at 111.91, wait for another correction to 109.99-109.76 and a bounce within it to re-buy USD with your take profit still at 111.91 and stop loss at 109.04.However, should there be a clear breakout above 111.91 with a big green candle, wait for a correction to the just broken line and a bounce at it before you buy USD with your take profit at 114.07. As long as price is contained above 109.99-109.76, only long positions may be advisable.

Trade recommendation

Remain long with your take profit at 111.91 and stop loss at 109.12.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .