Remain short | 21 December 2022

21 December 2022, USD/JPY

Remain short

Technical observation

On the daily chart above, USD is trading below the resistance zone it established at 139.00-138.25 with an increasing bearish bias and as long as it is sustained below this zone I expect a continuation of this downwards movement. If you are currently holding short positions with the pair above, my advice is, remain in the trade with your take profit at 126.78 and stop-loss at 142.48. In case there is a clear break below the level 126.78 with a big red candle, I expect the value of this pair to plummet further towards the supportive levels 112.70 and 102.83. On the chart above, only short positions look ideal and can be recommended.

Trade recommendation

Remain short with your take profit at 126.78.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus