Wait | 15 March 2021

15 March 2021, USD/JPY

Technical observation

On the daily chat above, if you bought USD within the zone 106.94-106.66, remain long and pick your profits at 109.58. However, if your currently neutral with this pair, you can anticipate a bounce at the line 109.5 followed by a correction to the zone mentioned above to pick long positions. In case there is a penetration above the line 109.58 with a big green candle, wait for a correction to the just broken line and a bounce at it to confirm a possible momentum to the upper side before you pick long positions towards 112.12. In case of a break below the zone 106.94-106.66, I expect a decline to the zone 104.78-104.58.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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