Remain short towards 111.85. | 14 Desember 2018

14 Desember 2018, USD/JPY

Remain short towards 111.85.

Technical observation

USD/JPY pulled to the upper side but still closed below the key resistance zone 113.78-113.63.While the price is contained below the above mentioned zone I expect bearish price rally towards 111.85.In case you picked short positions within 113.78-113.63 after a rejection, remain short with your take profit at 111.85 and stop loss at 114.73.On the way downwards the key lines to look for on the chart above are; 111.85, 109.45, 107.40 and 104.61.If you had not sold this pair yet, wait for another retracement to 113.78-113.63 and a rejection at it to sell USD, or clear breakout below 111.85 followed by a correction to it and a rejection to sell USD.

Trade recommendation

Remain short with your take profit at 111.85 and stop loss at 114.73.

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

Remain short towards 111.85.

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Imelda Maseno
Analyst of «FreshForex» company
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