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We are neutral.

We are neutral. | 11 November 2022

11 November 2022, USD/JPY

We are neutral.

Technical observation

USD broke below the zone 145.47-145.1 then declined to a key level 140.65 where it was rejected and since then it has been trading with an increasing bullish bias. This upwards movement is a correction to the zone I have mentioned above and I expect a possible rejection of price within it followed by a momentum to the lower side. My advice, remain flat and wait for a correction to the zone 145.47-145.1 then sell a bounce within it with your take profit at 140.65 and stop-loss at 146.92, should there be a clear break below the level 140.65 with a big red candle, continue short towards the level 135.78 after a correction to the broken line.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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