We're flat | 26 November 2018

26 November 2018, USD/JPY

We're flat

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?

We're flat

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Imelda Maseno
Analyst of «FreshForex» company
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