26 November 2018, USD/JPY
Technical observation
USD/JPY is rallying on bearish momentum towards a resistance zone 115.42-114.52 and I expect either a clear penetration above it with a big green candle or a bounce within it. In case of a clear breakout above the zone with a big green candle, wait for a correction and a rejection within it to confirm bullish rally of price before you pick long positions with your take profit at 125.61 and stop loss at 110.82 and should there be a bounce within the zone, you can re-sell USD within it but not for long with your take profit at 109.34 and stop loss at 117.55.Right now you can remain flat and wait for either a rejection or a breakout to trade USD.
Trade signal
Remain flat.
Do you know against which currencies JPY is the most profitable?More trading assets here...