19 ноября 2018, USD/JPY
Technical observation
The pair on the hourly chart above is on a downwards trend. After a clear breakout below the support 113.05 with a big red candle, price rallied below it towards the support 112.62 and is currently at it.I expect either a clear breakout below 112.62 with a big red candle followed by a correction to it for bearish movements of USD or a rejection at 112.62 followed by a correction to the recently broken support 113.05 and a rejection at it for bearish momentum of price. I would advise you remain flat temporarily and wait for either of the above mentioned circumstance to USD. Only short positions can be recommended.
Trade recommendation
Remain flat temporarily.
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