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Wait | 10 October 2022

10 October 2022, USD/JPY

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Technical observation

USD is trading with an increasing bullish bias slightly below the resistance level 145.90 and my expectation is a rise to this level followed by a either a rejection of price at it or a clear break above it with a big green candle. If you are currently holding long positions with the pair above, remain in the trade and pick your profits at 145.9, however, if you are neutral with USD, wait for either a correction to the supportive zone 140.66-140.33 then buy a bounce within or a clear beak above the level 145.90 to buy USD. As it is on the 4 hour chart above, I can only recommend short positions in case of a break below the zone 140.66-140.33.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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