We are neutral. | 02 Septiembre 2022

02 Septiembre 2022, USD/JPY

We are neutral.

Technical observation

USD bounced at the resistance level 140.33 and it is currently trading with an increasing bearish bias and as long as it remains below the same line, I expect a continuation of this downwards movement to the supportive level 138.17. My advice, remain flat an wait for a correction to the level 138.17 then buy a bounce at it with your take profit at 140.33 and stop-loss at 137.58, in case of a break above the level 140.33, I expect the value of USD to ascend further after a correction to the broken line, on the other hand if there is a clear penetration below the level 138.17, I expect bearish movements of price towards the supportive zone 135.80-135.58.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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