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We're short within within 105.26-105.05

We're short within within 105.26-105.05 | 13 March 2020

13 March 2020, USD/JPY

Technical observation

On the daily chart above price rose but did not penetrate above the resistance zone it had established around 105.26-105.05. Bearish price movements towards the supportive level 101.76 is expected following a rejection within the above-mentioned zone. Sell this pair within 105.26-105.05 with your take profit at 101.76 and stop loss at 106.40. Should there be a clear breakout above 105.26-105.05 with a big green candle, wait for a correction to the just broken zone and a bounce within it before you pick long positions with your take profit at 107.86 and stop loss at 104.09.

Trade recommendation

Sell USD within 105.26-105.05 with your take profit at 101.76.

Imelda Maseno
Analyst of «FreshForex» company
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