Wait for a correction to sell USD | 16 Julio 2021

16 Julio 2021, USD/JPY

Wait for a correction to sell USD

Technical observation

USD declined up to the supportive zone 109.71-109.66 as I had predicted yesterday but could not break below it, it bounced above the zone and is currently trading with an increasing bullish bias. This bullish movement is a retracement to the resistance level 110.75 and I expect a loss of it at the line for a momentum to the lower side. My advice, remain flat and wait for a correction to the line 110.75 and a rejection at it to sell USD with your take profit at 109.71. In case of a clear breakout below the zone 109.71-109.66 with a big red candle, I expect price to surge to the lower side towards the supportive zone 108.42.

Trade recommendation

Wait for a correction to the zone 109.71-109.66 to sell USD.

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