Wait | 13 May 2022

13 May 2022, USD/JPY

Wait

Technical observation

On the hourly chart above price did not rise as I had anticipated, instead it declined with a big red candle and broke below the zone 129.55-129.45 then rallied further downwards to the supportive zone 127.91-127.79. Currently USD is trading with an increasing bullish bias slightly above the zone 127.91-127.79 and I expect a continuation of this upwards movement to the zone 129.55-129.45 followed by a rejection within it to pick short positions with my take profit at 127.91 and stop loss at 130.05. Should there be a clear break below the zone 127.91-127.79, I expect it to plummet further towards the key level 126.30, 124.93 or even lower to 123.46.

Trade recommendation

Wait for a correction to the zone 129.55-129.45 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.