We are long towards 119.12 | 18 March 2022

18 March 2022, USD/JPY

We are long towards 119.12

Technical observation

On the hourly chart above, price rose above the resistance zone 118.45-118.39 then corrected to the same zone and it was sustained above it. As long as USD remains above the zone I have mentioned above, I expect it to rise towards the level 119.12 followed by either a clear breakout above it with a big green candle or a rejection at it followed by another correction to the zone 118.45-118.39. If you are currently holding long positions with the pair above, remain in the trade with your take profit at 119.12 and stop loss at 117.86. As it is on the chart above, I can only recommend short positions in case of a clear breakout below the zone 118.45-118.39.

Trade recommendation

Remain long with your take profit at 119.12.

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