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Pick your profits 103.30

Pick your profits 103.30 | 19 November 2020

19 November 2020, USD/JPY

Pick your profits 103.30

Technical observation

For several days now, USD has been rallying steadily with an increasing bearish momentum. Right now, price is approaching the supportive level marked at 103.30 and my expectation is either a clear breakout below it with a big red candle or a rejection at it followed by another correction to the zone 105.58-105.36. If you are currently short with this pair, remain so and pick your profits at the key line 103.30. In case you are currently flat with this pair, wait for either another correction to 105.58-105.36 or a breakout below the line 103.30 followed by a correction to it and a bounce to short USD towards 101.16.

Trade recommendation

Remain short with your take profit at 103.30.

Imelda Maseno
Analyst of «FreshForex» company
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