Wait for a correction | 26 August 2020

26 August 2020, USD/JPY

Wait for a correction

Technical observation

USD penetrated above a zone 106.19-106.12 with a big green candle and is currently rallying above it with an increasing bearish momentum. I expect a loss of this bearish movement within the zone 106.19-106.12 for bullish price rally towards the line 107.27. My advice wait for a correction to the above mentioned zone and a rejection within it to buy USD with your take profit at 107.27 and stop loss at 105.76. Should there be a clear break above the zone 107.35-107.27 with a big green candle with a big green candle, you can anticipate further bullish movements of this pair towards the resistance line 108.50.

Trade recommendation

Wait for a correction to buy USD.

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