We're flat | 14 October 2020

14 October 2020, USD/JPY

Technical observation

On the chart above, USD is retracing to a resistance zone it established around 105.59-105.57, I expect a bounce within this zone for bearish movements of price towards the supportive level 105.27. Remain flat and wait for a correction to the zone mentioned above and a rejection within it to sell USD with your take profit at 105.27 and stop loss at 105.79. In case there is no bounce within the zone 105.59-105.57 but a clear breakout above it with a big green candle, wait for a correction to it and a rejection before you buy USD with your take profit at the resistance line 105.94 and stop loss at 105.38.

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