Remain flat | 03 December 2020

03 December 2020, USD/JPY

Technical observation

USD is trading between a supportive zone 104.15-104.11 and a resistance zone 104.96-104.91, I expect either a decline to the supportive zone mentioned above followed by a rejection within it to buy USD, or, a rise to the resistance zone followed by a clear breakout above it. Right now, remaining flat with this pair is ideal than picking any positions. In case of a decline to the zone 104.15-104.11, buy USD within it after a bounce with your take profit at 104.91 and stop loss at 103.85, and should there be a break above 104.96-104.91, wait for a correction to it before you pick long positions towards 105.70.

Trade recommendation

Remain neutral.

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