Wait for a retracement | 27 Febrero 2020

27 Febrero 2020, USD/JPY

Wait for a retracement

Technical observation

On the chart above, USD is pulling back to a supportive zone 109.74-109.62 and I expect a rejection within it for bullish price rally towards the resistance 112.37. Wait for a retracement to 109.74-109.62 and a bounce within it to buy USD with your take profit at 112.37 and stop loss at 108.87. Continue long with this pair after a clear penetration above 112.37 with a big green candle followed by a correction to it. Should there be a clear breakout below 109.74-109.62 with a big red candle, wait for a pullback to the just broken zone and a rejection within it before you pick short position with your take profit at 106.76.

Trade recommendation

Wait for a retracement to 109.74-109.62 and a bounce within it to buy USD.

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.