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Place a buy order within 107.89-107.98

Place a buy order within 107.89-107.98 | 09 June 2020

09 June 2020, USD/JPY

Place a buy order within 107.89-107.98

Technical observation

USD is retracing to the supportive zone it established around 107.89-107.98 and I expect a bounce within it for possible bullish movements towards the key level 109.85. My advice, buy USD within the zone mentioned above with your take profit at 109.85 and stop loss at 107.36. If the level 109.85 is broken with a big green candle, wait for a correction to the just broken line and a bounce at it to continue long with this pair towards the key level 111.73. As it is in the chart above as long as price is contained above the zone 107.89-107.98, only bullish positions look ideal and may be recommended.

Trade recommendation

Buy USD within 107.89-107.98 with your take profit at 109.85.

Imelda Maseno
Analyst of «FreshForex» company
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