we're short towards 107.78. | 02 July 2019
02 July 2019, USD/JPY
Technical observation
Yesterday USD was rejected around the resistance zone 108.68-108.58 as I had predicted and since then it has been rallying downwards, my expectation is a surge to the lower side to the support 107.78 followed by a breakout below it for a further decline in price, if you sold this pair yesterday within 108.68-108.58, remain short with your take profit at 107.78 and stop loss at 109.13 but if you’re currently neutral, remain so and wait for either another correction to 108.68-108.58 and a rejection within it to sell USD, or a clear penetration below 107.78 and a correction to it confirming bearish movement of price before you sell.
Trade recommendation
Remain short towards 107.78.
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.
