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Wait | 14 October 2022

14 October 2022, USD/JPY

Technical observation

USD broke above the level 145.90 and it is currently trading with an increasing bullish bias above it, however, I expect a loss of this upwards movement followed by a correction to the supportive level indicated above. My advice, remain neutral and wait for a correction to the level 145.9 to pick long positions towards 148.10 with your stop-loss at 144.38, should there be a clear break below the level 145.90 with a big red candle, I expect the value of USD to plummet towards the supportive zone 140.66-140.33 and I would recommend you buy a bounce within this zone with your take profit at the level 145.90.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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