Forex Technical Analysis: Trend potential – Remain short with your take profit at 110.39

USDJPY – Down

Remain short with your take profit at 110.39

Technical observation

USD rose significantly to the upper side breaking above a key zone 110.87-110.84, it could not be contained above the zone and penetrated below it before correcting to it severally, currently USD is moving downwards and I expect more bearish momentum to the lower side to 110.39 and a break below it for a further decline in price towards 109.94.If you sold this pair within 110.87-110.84, hold on to that position with your take profit at 110.39 and stop loss at 110.98.Continue short with USD after a break below 110.39 and a correction to it confirming further bearish momentum. Only short can be recommended.

Trade recommendation

Remain short with your take profit at 110.39 and stop loss at 110.98.

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