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Wait | 09 September 2021

09 September 2021, USD/JPY

Technical observation

USD rose steadily as I had predicted hitting our take profit and price could not penetrate above the upper trend line ad indicated above. Right now price is trading with an increasing bearish bias and this downwards movement is a correction to the lower trend level as demonstrated on the chart above. I expect a continuation of this bearish rally to the lower trend level followed by a bounce at it to buy USD with my take profit at 110.44. In case of a clear breakout above the level 110.44 with a big green candle, I expect a further momentum to the upper side but in case of a break below the supportive trend level, I expect a surge to the lower side.

Trade recommendation

Remain flat.1.3797-1.3793

Imelda Maseno
Analyst of «FreshForex» company
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