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Remain neutral

Remain neutral | 22 September 2020

22 September 2020, USD/JPY

Remain neutral

Technical observation

USD is trading with an increasing bearish momentum between a supportive line 104.11 and a resistance zone 105.22-105.16. I expect either a decline to the line 104.1 followed by a clear breakout below it with a big red candle, or a rise to the above-mentioned zone and a bounce within it to sell USD. My advice, remain flat and wait for either a decline to 104.11 and a break below it to sell USD or a correction to 105.22-105.16 and a bounce within it to sell USD with your take profit at 104.11 and stop loss at 105.45. As it so on the chart above, you can only anticipate bullish movements above 105.22-105.16.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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