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We're long within 111.63-111.40

We're long within 111.63-111.40 | 22 Tháng mười một 2018

22 Tháng mười một 2018, USD/JPY

We're long within 111.63-111.40

Technical observation

USD/JPY is rallying on an upward trend with several retracements at the key supportive zone 111.63-111.40, currently, price is moving on a bearish momentum towards the zone and I expect a rejection within it for bullish movements of USD towards 114.52 and a possible breakout above it for a further rise in price. I’m looking to buy this pair within the above mentioned zone with my take profit at 114.52 and stop loss at 110.36.In case of a clear penetration below 111.40 with a big red candle, wait for a correction to it confirming bearish momentum of USD before you pick short positions with your ideal target at the supportive line 107.78.

Trade signal

Buy USD/JPY within 111.63-111.40 with your take profit at 114.52 and stop loss at 110.36.

Do you know against which currencies JPY is the most profitable?

We're long within 111.63-111.40

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Imelda Maseno
Analyst of «FreshForex» company
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