Wait for a pullback to sell USD | 24 June 2019
24 June 2019, USD/JPY
Technical observation
Recently a breakout was seen when price went below a level 107.64 and is currently trading below it on an increasing bullish bias. I expect a loss of this movement at the line 107.64 followed by a surge towards 105.26. Wait for a pullback to 107.64 and a rejection at it to sell USD with your take profit at 105.26 and stop loss at 108.29, if this take profit is hit and there’s a clear breakout below it with a big red candle, wait for a retracement to it and a rejection confirming further bearish price rally before you continue short with USD. Only short positions look ideal and may be recommended on the daily chart above.
Trade recommendation
Wait for a pullback to 107.64 and a rejection at it 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.
