Wait for a breakout | 28 Octubre 2020

28 Octubre 2020, USD/JPY

Wait for a breakout

Technical observation

USD is trading within a supportive zone 104.60-104.18; I expect a clear breakout below the zone with a big red candle followed by a retracement to it for a decline towards the supportive level 96.24. My advice, wait for a clear breakout below the zone 104.60-104.18 with a big red candle, followed by a correction to it confirming bearish movements of price before you sell USD with your take profit at 96.24 and stop loss at 106.57. In case of a break below the level 96.24, wait for a correction to the just broken line to confirm a further surge to the lower side before you continue short with USD.

Trade recommendation

Wait for a break below 104.60-104.18 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.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus