Wait for a correction to sell USD | 13 May 2019
13 May 2019, USD/JPY
Technical observation
USD is trading below a resistance line 110.15 on an increasing bullish momentum and i expect a correction and a rejection within it for possible bearish rally towards the supportive level 109.09, my advice, wait for a correction to 110.15 and a rejection at it to sell USD with your take profit at 109.09 and stop loss at 110.36, in case of a penetration below 109.09, more bearish momentum of this pair can be anticipated after a correction to the just broken line and a bounce at it confirming a further surge to the lower side. Right now only short positions look ideal and may be advisable for the pair on the 4 hour chart above.
Trade recommendation
Wait for a correction to 110.15 to sell USD with your take profit at 109.09 and stop loss at 110.36.
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.
