Remain long | 13 May 2021

13 May 2021, USD/JPY

Remain long

Technical observation

USD retraced to the supportive zone 108.08-107.7 but did not break below it, price bounced within the zone and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance zone 115.64 followed either a clear breakout above it or a rejection at it. If you bought USD within the zone mentioned above after a bounce, remain long with your take profit at 115.64 and stop loss at 106.30. Should there be a clear break below the zone 108.08-107.78 with a big red candle, wait for a correction to the just broken zone and a rejection within it confirming a possible rally to the lower side before you short USD.

Trade recommendation

Remain long with your take profit at 115.64.

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.