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Remain flat

Remain flat | 23 March 2021

23 March 2021, USD/JPY

Technical observation

USD is trading with an increasing g bearish bias above a trend line as indicated on the hourly chart above. I expect a loss of this bearish movement at the trend line for possible bullish movements of price. My advice, wait for a correction to the line indicated on the chart above to buy USD with your take profit at 109.36 and stop loss at 108.01. In case of a clear breakout below it the zone 108.37-108. 33 with a big red candle, you can anticipate a surge to the lower side towards the supportive level 107.43, however as long as price is contained d above the zone 108.37-108. 33, I expect only bullish movement of price.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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