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We're flat

We're flat | 10 September 2021

10 September 2021, USD/JPY

We're flat

Technical observation

USD is trading with an increasing bullish bias within a supportive zone 109.12-107.78 and a resistance level 114.08. My expectation is either a loss of this bullish movement followed by a correction to the supportive zone I have mentioned above and a bounce within if it for a momentum to the upper side. As it is on the chart above, remaining neutral with this pair is idea than picking any positions. My advice, wait for a correction to the zone 109.12-107.78 and a rejection within it to USD with your take profit at 114.08 and stop loss at 106.69. In case of penetration below the zone 109.12-107.78, I expect price to plummet to the supportive level 103.22.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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