We're short

27 März 2020, USD/JPY

We're short

Technical observation

USD went down with a big bred candle after a rejection at the resistance line 112.09. Today, further bearish movements can be expected towards the supportive zone 108.17-107.99. If you went short with this pair at the line 112.09, remain short and pick your profits at the line 108.18. In case there’s a clear penetration below the supportive zone 108.17-107.99, wait for a correction to it to confirm possible further bearish price rally before you continue short. On your way downwards, the key levels to look for include104.96, and 102.28. Long positions may only be recommended above the line 112.09.

Trade recommendation

Remain short with your take profit at 108.18.

Imelda Maseno
Analyst of «FreshForex» company
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