We're neutral temporarily | 04 Junio 2021

04 Junio 2021, USD/JPY

We're neutral temporarily

Technical observation

USD is trading with an increasing bullish bias between a supportive zone 104.74-104.22 and a resistance level 114.15, I expect this upwards movement to continue to the resistance level I have mentioned above followed by a clear breakout above it with a big green candle. If you are currently neutral with this pair, remain so and wait for a clear breakout above the level 114.15 and a correction to it to buy USD with your take profit at 125.70. However, if price rally downwards and is rejected within the zone 104.74-104.22, buy USD within the zone with your take profit at 114.15. On the chart above, I can only recommend short positions below 104.74-104.22.

Trade recommendation

Remain flat.

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