Wait for a correction | 11 Marzo 2020

11 Marzo 2020, USD/JPY

Wait for a correction

Technical observation

Yesterday USD rose steadily with a big green candle penetrating above a resistance level 104.42. Currently this pair is trading below a resistance zone 106.81-106.63 and I expect a rise to it followed by a bounce for downwards movements. Wait for a correction to the above-mentioned zone and a rejection within it to sell USD with your take profit at 104.42 and stop loss at 108.01. Should price hit this take profit and break below it, wait for a retracement to the just broken level and a bounce at it before you continue short.

Trade recommendation

Wait for a retracement to 106.81-106.63 to sell 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.