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Wait | 30 September 2020

30 September 2020, USD/JPY

Technical observation

USD rose up to the resistance line 105.79 then bounced at it and is currently pulling back to the supportive zone it established around 105.22-105.16. I expect a loss of this bearish rally within the same zone followed by a rejection within it to buy USD with my take profit at 105.79 and stop loss at 104.87. In case of a clear breakout above the line 105.79 with a big green candle, wait for a correction to it and a rejection to confirm bullish movements of price before you continue long with this pair towards the resistance line 106.46. You can only anticipate bearish movements of USD below 105.22-105.16.

Trade recommendation

Wait for a correction to 105.22-105.16 to buy USD.

Imelda Maseno
Analyst of «FreshForex» company
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