We're short towards 107.08 . | 30 July 2019
30 July 2019, USD/JPY
Technical observation
Yesterday USD did not go down as had been predicted but instead rallied upwards and still could not penetrate above the resistance zone it established around 108.86-108.68. Currently price is trading within the above mentioned zone on an increasing bearish bias and I expect this movement to continue towards the support 107.08 followed by a clear penetration below it. My advice, sell this pair within the zone 108.86-108.68 with your take profit at 107.08 and stop loss at 109.59, in case this line is broken wait for a correction and a rejection at it confirming further bearish price rally before you continue short with USD.
Trade recommendation
Sell USD within 108.86-108.68 with your take profit at 107.08 and stop loss at 109.59.
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.
