Remain short towards 111.85. | 18 Desember 2018

18 Desember 2018, USD/JPY

Technical observation

USD is declining steadily towards the support 111.85 and I expect either a rejection at it followed by a correction to the resistance zone 113.78-113.63 to re-sell this pair or a clear breakout below it followed by correction to it to pick short positions. I recently sold this pair within the above mentioned zone and I’m holding on to this position with my take profit at 111.85 and stop loss at 114.56. In case you had not sold this pair yet, wait for either a bounce at 111.85 followed by a correction to 113.78-113.63 to sell USD, or a clear breakout below it to sell, on your way downwards the lines to look for include, 111.85, 109.45, 107.40 and 104.61.

Trade recommendation

Remain short towards 111.85.

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Imelda Maseno
Analyst of «FreshForex» company
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