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Remain short

Remain short | 23 March 2020

23 March 2020, USD/JPY

Remain short

Technical observation

On Friday price declined but closed with an indecisive bearish candle. Today is still expect further bearish movements towards the supportive zone this pair established around 108.18-107.99. If you sold this pair at the resistance line 110.91 after a bounce, remain short with your take profit at 108.18 and stop loss at 112.08. As long as USD is contained below the key level 110.91, bearish movements is anticipated. In case of a clear breakout above the line 110.91 with a big green candle, wait for a pullback to the just broken level and a rejection at it before you buy USD towards the key line 114.09.

Trade recommendation

Remain short with your take profit at 108.18.

Imelda Maseno
Analyst of «FreshForex» company
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