We are flat | 10 Febrero 2023

10 Febrero 2023, USD/JPY

Technical observation

USD declined to the supportive level 126.78 then bounced at it and since then it has been trading with an increasing bullish bias. This upwards movement is a pullback to the resistance zone 138.92-138.25 and I expect a rejection within it followed by a surge to the lower side. My advice, remain flat and wait for a correction to the zone mentioned above then sell USD within it with your take profit at 126.78 and stop-loss at 142.42. In case of a break below the level 126.78 with a big red candle, I expect the value of USD to plummet towards the supportive levels 112.70 and 102.43, on the chart above; I can only recommend bullish positions above the zone 138.92-138.25.

Trade recommendation

Wait for a pullback to the zone 138.92-138.25 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.