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Wait | 22 June 2022

22 June 2022, USD/JPY

Technical observation

USD rose and broke above the level 135.56 with a big red candle and currently it is trading with an increasing bearish bias, this downwards movement is a correction to the level mentioned above and I expect a rejection at it to pick long positions with my take profit at 137.06 and stop-loss at 134.94. In case of a clear break above the level 137.06, I expect a further surge to the upper side after a correction to it, on the other hand, if price is not sustained above the level 135.56 but clearly breaks below it with a big red candle; I expect bearish movements towards the supportive zone 133.29-133.17 or even lower to 131.49.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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