17 April 2019, USD/JPY
Technical observation
USD is still retracing to the zone 111.92-111.75 and I expect a rejection of price within it for possible bullish rally towards the key level 114.04 and a break above it for a further rise in price. My advice, wait for a correction to the above mentioned zone to buy USD after a bounce within it with your take profit at 114.04 and stop loss at 110.99, continue long with this pair in case of a breach above 114.04 followed by a correction to it. AS long as USD is contained above the zone 111.92-111.75, only long positions can be recommended, short positions may only be advisable below 111.92-111.75 towards the key level 109.74.
Trade recommendation
Buy USD within111.92-111.75 with your take profit at 114.04 and stop loss at 110.99.
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