Remain flat | 17 Desember 2018

17 Desember 2018, USD/JPY

Remain flat

Technical observation

On the weekly chart above price is rallying below a resistance zone 114.52-113.71, my expectation is a either a rejection within the zone for possible bearish momentum towards 106.20 or a clear penetration above the zone with a big green candle followed by correction to it for possible bullish price rally towards 122.82.I would advise you remain flat temporarily and wait for either a pullback to 114.52-113.71 and a rejection within it to sell USD with your take profit at 106.20 and stop loss at 117.58 or a penetration above the zone with a big green candle followed by correction to it to pick long position with your take profit at the resistance 122.82.

Trade recommendation

Remain flat.

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

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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