we are flat | 11 Agosto 2022

11 Agosto 2022, USD/JPY

we are flat

Technical observation

On the daily chart above price is trading with an increasing bearish bias between the supportive zone 127.25-126.67 and the resistance level 139.36. This bearish movement is a correction to the zone I have mentioned above and I expect it to descend further to same zone followed by a bounce within it. My advice, remain neutral and wait for a pullback to the zone indicated above to buy USD with your take profit at 139.36 and stop-loss at 123 .44. If price breaks above the level 139.36, I expect it to rally further to the upper side after a correction to the broken line. I can only recommend short positions in case of a break below the zone 127.25-126.67.

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.