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Wait | 13 June 2022

13 June 2022, USD/JPY

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Technical observation

On the chart above price has been rising steadily for some time now and currently, it is trading with an increasing bullish bias below the resistance level 135.03. I expect a rejection of this upwards movement at the same line followed another correction to the supportive zone 126.78-126.34. My advice, remain flat and wait for a correction to the zone mentioned above to pick bullish positions with your take profit at 135.03 and stop-loss at 123.95. I can only recommend bearish positions in case of a clear penetration below the zone mentioned above. Remain long if price clearly breaks above the key level 135.03 with a big green candle.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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