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We're long towards 106.15

We're long towards 106.15 | 28 September 2020

28 September 2020, USD/JPY

We're long towards 106.15

Technical observation

Following its rejection within the supportive zone 105.22-105.16, USD has been rising steadily towards the resistance line marked at 106.15. If you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 106.15 and stop loss at 104.86. Should price penetrate above the line 106.15 with a big green candle, you can expect a surge to the upper side towards the resistance zone 107.49-107.40. On the 4-hour chart above, as long as price is contained above the supportive zone 105.22-105.16, only bullish positions look ideal and can be recommended.

Trade recommendation

Remain long with your take profit at 106.15.

Imelda Maseno
Analyst of «FreshForex» company
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