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Sell USD now within 112.01-111.83

Sell USD now within 112.01-111.83 | 15 April 2019

15 April 2019, USD/JPY

Technical observation

USD rose steadily to a zone 112.01-111.83 but could not break above it, it was rejected and is currently trading on an increasing bearish bias. I expect bearish price rally towards the key line 109.74 followed by a possible penetration below it for a further decline in price towards the lowest key line 106.85.You can sell this pair now within the zone with your take profit at 109.74 and stop loss at 112.58, continue short after a break below 109.74.On the daily chart above, as long as USD is contained below the zone 112.01-111.83, only short positions can be recommended, long position may only be advisable above 112.01-111.83.

Trade recommendation

Sell USD now within 112.01-111.83 with your take profit at 109.74 and stop loss at 112.58.

Imelda Maseno
Analyst of «FreshForex» company
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