We're flat | 02 April 2019
02 April 2019, USD/JPY
Technical observation
Yesterday, USD broke above a resistance line 110.88 then pulled back to it before rising, right now price is declining to the line and my expectation is a rejection at it for possible bullish price rally towards 112.13 and a breakout above it for a further rise. My advice, wait for the correction to 110.88 and a bounce at it to buy USD with your take profit 112.13 and stop loss at 110.52.In case price is not rejected at 110.88 but instead breaks below it with a big red candle, bearish movements of this pair towards the supportive zone 109.61-109.51 or even lower to the supportive level 107.64 can be anticipated.
Trade recommendation
Remain flat.
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.
