Wait | 14 April 2023

14 April 2023, USD/JPY

Technical observation

USD is trading with an increasing bearish bias between the resistance zone 138.67-137.90 and a supportive level 126.78. I expect either a loss of this downwards movement followed by a correction to the zone I have mentioned above, or a continuation of this bearish movement to the supportive level 126.78. In case of a pullback to the zone I mentioned above sell USD within it with your take profit at 126.78 and stop-loss at 142.43, if price penetrates below the level 126.78, I expect it to plummet towards the supportive levels 112.70, 102.50 or lower. I can only recommend bullish positions above the zone 138.67-137.90.

Trade recommendation

Remain flat.

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