We're flat | 25 Marzo 2021

25 Marzo 2021, USD/JPY

Technical observation

On the daily chart above, price is trading with an increasing bullish momentum below a resistance level109.32, however, I expect a possible decrease towards the supportive zone 106.83-106.66, this anticipated bearish movement is a retracement to the zone and i expect a rejection of it within the same zone for a momentum to the upper side. My advice, remain flat and wait for a correction to the zone 106.83-106.66 to buy USD with your take profit at 109.32 and stop loss at 105.85. In case of a breakout above the line 109.32 with a big green candle, I expect the value of this pair to rise further towards the level 112.07.

Trade recommendation

Remain neutral.

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.