Remain flat temporarily. | 03 April 2019

03 April 2019, USD/JPY

Remain flat temporarily.

Technical observation

USD is trading on an increasing bullish bias below a zone 111.86-111.64, I expect either a rejection of it within the zone for bearish price rally towards 108.74, or a clear breakout above the zone with a big green candle followed a pull back to it for bullish momentum towards 114.52.In case of a bounce within the zone, you can pick short positions within it but not for long, however, should USD penetrate above 111.86-111.64 clearly, wait for a correction to the just broken zone and a bounce within it before you buy this pair with your take profit at 114.52 and stop loss at 110.94.Right now remain neutral temporarily.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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