We're short within within 105.26-105.05 | 13 March 2020
13 March 2020, USD/JPY
Technical observation
On the daily chart above price rose but did not penetrate above the resistance zone it had established around 105.26-105.05. Bearish price movements towards the supportive level 101.76 is expected following a rejection within the above-mentioned zone. Sell this pair within 105.26-105.05 with your take profit at 101.76 and stop loss at 106.40. Should there be a clear breakout above 105.26-105.05 with a big green candle, wait for a correction to the just broken zone and a bounce within it before you pick long positions with your take profit at 107.86 and stop loss at 104.09.
Trade recommendation
Sell USD within 105.26-105.05 with your take profit at 101.76.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
