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we are neutral

we are neutral | 06 January 2022

06 January 2022, USD/JPY

we are neutral

Technical observation

The general trend for the pair on the chart above is upwards; USD ascended and broke above the resistance zone 115.35-115.22 with a big green candle as I had anticipated and currently it is still showing signs of rising even further. However, despite this movement to the upper side, i expect bearish rally to the just broken zone followed by a rejection within it to buy USD with my take profit at 118.63 and stop loss at 114.02. In case this pair is not contained above the zone I have mentioned above but instead breaks below it with a big red candle, wait for a second correction to the broken line confirming possible bearish movements of price before you pick short positions towards 112.73.

Technical observation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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