We're flat | 16 Julio 2020

16 Julio 2020, USD/JPY

Technical observation

On the weekly chart above, price is trading with an inreasing bearish momentum above a supportive level 104.65. I expect a clear breakout below the support with a big red candle followed by a correction to it. My advice, remain flat and wait for a clear penetration below the line 104.65 and a correctiont to it to to confirm bearish movements of price and sell USD at the line after a bounce with your take profit at 96.81 and stop loss at 106.99. On your way downwards the key levels to look for are; 96.81, 87.36 and 80.36. I can only recommend bullish positions in case of a clear breaout above the line 114.32.

Trade recommendation

Remain flat.

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.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus