We're bearish towards 103.49 | 20 Noviembre 2020

20 Noviembre 2020, USD/JPY

We're bearish towards 103.49

Technical observation

USD pulled back to the resistance line 104.11 as anticipated and did not break above it; price bounced at the line and is currently trading with an increasing bearish momentum. I expect this downwards movement to continue to the supportive level followed by a clear breakout below it for a momentum to the lower side. If you sold USD at the line 104.11 after a bounce, remain short with your take profit at 103.49 and stop loss at 104.38. In case of a clear breakout below the line 103.49 with a big red candle, wait for a correction to it confirming further bearish movements before you continue short.

Trade recommendation

Remain short with your take profit at 103.49.

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