Wait for a correction to the zone 137.45-138.04 | 21 Noviembre 2023

21 Noviembre 2023, USD/JPY

Wait for a correction to the zone 137.45-138.04

Technical observation

USD rose to the resistance level 151.95 then bounced at it and it is currently trading with an increasing bearish bias, this downwards movement is a correction to the supportive zone 137.45-138.04 and I expect a decline to the same zone followed by a rejection of price within it. My advice, remain neutral and wait for a correction to the zone I have indicated above to re-buy USD with your take profit at 151.95 and stop-loss at 135.19. If the value of USD is not sustained above the zone 137.45-138.08 but clearly breaks below it with a big red candle, I expect it to plunge towards the level 127.23.

Trade recommendation

Wait for a correction to the zone 137.45-138.04 to re-buy 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.