Remain flat | 14 Februari 2019

14 Februari 2019, USD/JPY

Remain flat

Technical observation

For several days now, USD has been rising steadily above the zone 109.99-109.76 and my expectation is a correction to it followed by a bounce for bullish price rally towards 112.63.You can remain flat for now and wait for the pullback to 109.99-109.76 to buy a bounce with your take profit at 112.63 and stop loss at 108.72.In case of a breakout above 112.63, more bullish momentum of this pair can be anticipated. Short positions can only be recommended should there be a clear penetration below 109.99-109.76 with a big red candle followed by a correction to it confirming possible bearish price rally towards 107.35.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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