we are flat | 07 Octubre 2022

07 Octubre 2022, USD/JPY

we are flat

Technical observation

On the 4 hour chart above price is trading with an increasing bullish bias at the resistance level 145.06 and my expectation is either a clear break above this level with a big green candle, or a rejection of price at it followed by a correction to the supportive zone price established at 140.66-140.33. If there is a clear break above the level 145.06, wait for a correction and a rejection of price at it before you continue long with USD, on the other hand, in case of a retracement to the zone I have mentioned above, re-buy this pair within it after a bounce with your take profit still at 145.06 and stop-loss at 138.47.

Trade recommendation

Remain flat.

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.