18 Maret 2019, USD/JPY
Technical observation
USD was rejected along a trend line and I expect a rise in price towards a key resistance line marked at 112.63 followed by either a bounce at it or a clear breakout above it. You can buy USD now along the trend line with your take profit at 112.63 and stop loss at 110.76.In case of a rejection at 112.63 and a decline to the trend line followed by a possible breach below it, downwards movement of price towards 109.99 can be anticipated after a correction to the just broken line, but should there be a clear break above 112.63 followed by a correction to it, upwards momentum of this pair towards 114.52 or even higher can be expected.
Trade recommendation
Buy USD now with your take profit at 112.63 and stop loss at 110.76.