Wait | 07 Abril 2022

07 Abril 2022, USD/JPY

Wait

Technical observation

On the hourly chart above, price broke above a zone 123.11-123.02 then went up and for some time now it has been consolidating between the same zone and a resistance level 124.69. However, I expect a correction to the zone I have mentioned above followed by a rejection within it to pick long positions with my take profit at 124.69 and stop loss at 122.37. In case USD rises above the level 124.69, I anticipate a further momentum to the upper side after a pull back to the broken level ; however, in case of a break below the supportive zone indicated above, I expect the value of this pair to plummet towards the level 121.36.

Trade recommendation

Remain neutral.

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.