20 Tháng sáu 2019, USD/JPY
Technical observation
Following its rejection within the resistance zone 108.89-108.71, USD has been declining steadily and I still expect more of this movement towards the supportive level 106.45.If you sold this pair within the 108.89-108.71 after a rejection, hold on to that position with your take profit at 106.45 and stop loss at 109.59, however, if you’re not in a trade yet, wait for either another correction to 108.89-108.71, or, a clear breach below 106.45 followed by a correction to it and a rejection to sell USD. On the daily chart above as long as price is contained below the zone 108.89-108.71, only short positions look ideal and may be advisable.
Trade recommendation
Remain short with your take profit at 106.45 and stop loss at 109.59.
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