Principal >
Datos analíticos de Forex
>
Pronóstico Fresco
>
Technical Analysis Based on Breakout
>
Wait for a correction to the zone 118.45-118.38

Wait for a correction to the zone 118.45-118.38 | 21 Marzo 2022

21 Marzo 2022, USD/JPY

Wait for a correction to the zone 118.45-118.38

Technical observation

On the hourly chart above price retraced to a supportive zone 118.45-118.38 but could not break below it, it then ascended up to the resistance level 119.12 and bounced below the level. Right now USD is trading with an increasing bearish bias and I expect a continuation of this downwards movement to the supportive zone 118.45-118.38 followed by a rejection within it to pick long positions with my take profit at 119.12 and stop loss at 117.78. In case of a penetration below the zone I have mentioned above with a big red candle, I expect price to plummet towards the supportive level 116.98 or even lower to the level 115.88.

Trade recommendation

Wait for a correction to the zone 118.45-118.38 to buy USD.

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión

Mostrar contraseña

Ocultar contraseña

 ¿Se te olvidó tu contraseña?
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.

Nuestros mejores premios:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.