We are flat | 11 Abril 2022

11 Abril 2022, USD/JPY

We are flat

Technical observation

On the 4 hour chart above price rose up to the resistance level 124.71 as I had expected and it did not break above it, Instead it bounced below the level and I expect possible bearish movements of price towards the supportive zone 121.61-121.39. The expected bearish rally is a correction to the zone I have mentioned above and I expect a rejection of price within it to pick long positions with my take profit at 124.71 and stop-loss at 120.37. If price breaks below the zone 121.61-121.39 with a big red candle, I expect further bearish movements towards the level 118.42, or even lower to the supportive level 115.90.

Trade recommendation

Wait for a correction to the zone 121.61-121.39 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.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus