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We're bearish towards 102.86

We're bearish towards 102.86 | 24 December 2020

24 December 2020, USD/JPY

We're bearish towards 102.86

Technical observation

USD is trading with an increasing bearish momentum below a resistance zone 103.73-103.67. I expect a possible surge to the lower side to the supportive line 102.86, however, this pair can still rise above the zone 103.73-103.67. If you went short with this pair within the zone after a bounce, remain in the trade with your take profit at 102.86. In case there is a clear breakout above the zone mentioned above with a big green candle, wait for a correction to it confirming a possible momentum to the upper side before you pick long positions with your take profit at the resistance line 104.70.

Trade recommendation

Remain short with your take profit at 102.86.

Imelda Maseno
Analyst of «FreshForex» company
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