Remain flat temporarily | 21 Diciembre 2020

21 Diciembre 2020, USD/JPY

Technical observation

On the 4-hour chart above, price is trading with an increasing bullish momentum below the resistance line 103.61-103.55, I expect a loss of this upwards movement within the same zone for a rally to the lower side. My advice, remain flat and wait for a retracement to the zone mentioned above and a bounce within it to sell USD with your take profit at 102.85 and stop loss at 103.91. In case there is no bounce within the zone 103.61-013.55 but a clear breakout above it with a big green candle, wait for a pullback to the just broken zone and a rejection within it before you long USD towards 104.68.

Trade recommendation

Remain flat temporarily.

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.