We're neutral | 01 October 2021

01 October 2021, USD/JPY

We're neutral

Technical observation

USD has been rising steadily for the past three consecutive weeks and it is still showing signs of rising even further. This week price had been trading with an increasing bullish bias and I expect it to continue further upwards and close bullish. My expectation is a rise to the resistance level 114.08 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by another correction to the supportive zone 107.84-107.46. As it is on the weekly chart above remaining neutral is ideal than picking any positions. AS long as the value of this pair is sustained above the supportive zone 107.84-107.46 I can only recommend bullish positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus