Sell USD within 109.88-109.64 | 23 January 2019

23 January 2019, USD/JPY

Technical observation

Yesterday USD rallied down but closed just below the zone 109.88-109.64 it is now retracing to the zone and I expect a rejection within it to sell USD with my take profit at 107.34 and stop loss at 110.72, in case you sold this pair yesterday within 109.88-109.64 you can still hold on to that positions since we expect more bearish momentum towards 107.34, or even lower to 104.61.Long positions may only be recommended above 109.88-109.64 towards the resistance level marked at 114.52 in case of a clear breach above it with a big green candle followed by a correction to it confirming possible upwards movement of price.

Trade recommendation

Sell USD within 109.88-109.64 with your take profit at 107.34 and stop loss at 110.72.

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Imelda Maseno
Analyst of «FreshForex» company
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