Wait for a correction to 108.68 to sell USD. | 03 June 2019
03 June 2019, USD/JPY
Technical observation
Following the rejection of this pair at the resistance line 109.68, USD declined steadily breaking below a supportive level 108.68.Right now price is trading on an increasing bullish momentum and i expect a loss of this movement at the line 108.68 for bearish price rally towards the line 107.51,wait for a correction to the line 108.68 and a rejection at it to sell USD with your take profit at 107.51 and stop loss at 109.07, if this take profit is hit and there’s a clear breach below it with a big red candle, wait for a retracement to it and a bounce at it confirming further bearish price rally before you continue short with this pair.
Trade recommendation
Wait for a correction to 108.68 to sell 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.
