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Sell USD within 135.30-135.20

Sell USD within 135.30-135.20 | 27 June 2022

27 June 2022, USD/JPY

Sell USD within 135.30-135.20

Technical observation

USD retraced to the zone 135.30-135.20 but did not break above it and currently it is trading with an increasing bullish bias within the same zone. My expectation is a bounce within the zone mentioned above followed by a surge to the supportive level 133.29. I would advise that you pick short positions within the zone 135.30-135.20 with your take profit at 133.29 and stop-loss at 135.80. In case of a clear penetration below the level 133.29, I expect a further surge to the supportive level 131.49 after a correction to the broken line. As long as the value of USD is sustained below the zone 135.30-135.20, I can only recommend bullish positions.

Trade recommendation

Sell USD within 135.30-135.20 with your take profit at 133.29.

Imelda Maseno
Analyst of «FreshForex» company
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