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Wait | 08 April 2020

08 April 2020, USD/JPY

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Technical observation

USD is still retracing to the zone 107.99-107.107.86 it penetrate above a few days ago. I expect a rejection of this downwards movement within the zone for possible bullish movements towards the key level 112.09. My advice, pick long positions within the above-mentioned zone with your take profit at the line 112.09 and stop loss at 106.86. Continue long with this pair after a penetration above the line 112.09 followed by a correction to it. On the daily chart above, as long as price is contained above the zone 107.99-107.107.86 only long positions look ideal and may be recommended.

Trade recommendation

Wait for a correction to 107.99-107.107.86 to buy USD.

Imelda Maseno
Analyst of «FreshForex» company
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