Remain short | 15 July 2020

15 July 2020, USD/JPY

Remain short

Technical observation

USD pulled back to a resistance zone it established around 107.49-107.40 and bounced within it. Currently price is trading with an increasing bearish momentum below the same zone and I expect this downwards rally to continue to the supportive level 106.44 followed by a clear breakout below it for further downwards rally. My advice, if you bought USD within the zone 107.49-107.40 after a bounce, remain short with your take profit at 106.44 and stop loss at 107.79. In case of a clear breakout above the zone 107.49-107.40 with a big green candle, wait for a retracement to it before you buy USD.

Trade recommendation

Remain short with your take profit at 106.44.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus