Wait for a correction to buy USD | 20 Septiembre 2021

20 Septiembre 2021, USD/JPY

Wait for a correction to buy USD

Technical observation

On the chart above, there was a false breakout below the supportive zone 109.58-108.54 with a big red candle, however, price was not contained below the zone and instead it broke above the same zone with a big green candle then rose steadily for some time. Right now USD is trading with an increasing bearish bias between the supportive zone I have mentioned above and a resistance level 110.36; I expect a continuation of this bearish movement to the same zone followed by a rejection within it to buy USD with my take profit at 110.36 and stop loss at 109.39. I can only recommend short positions below the zone 109.58-108.54.

Trade recommendation

Wait for a correction to the zone 109.58-108.54 to buy 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.