Wait | 18 October 2021

18 October 2021, USD/JPY

Wait

Technical observation

The pair on the weekly chart above rose as I had anticipated and slightly penetrated above the key level 114.07; this week I expect either a further momentum to the upper side or a correction to the just broken line. In case of a retraced to the level 114.07, wait for second pullback to the same level and a rejection at it to buy USD with your take profit at 121.53 and stop loss at 112.19. However, if price is not contained above the level 114.0 and instead it breaks below it with a big red candle, wait for a correction to the just broken line and a rejection at it to sell USD towards the supportive zone 107.84-107.46.

Trade recommendation

Remain neutral.

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