Buy USD within 107.99-107.107.86 | 10 April 2020
10 April 2020, USD/JPY
Technical observation
USD is still correcting to the supportive zone 107.99-107.107.86 and I expect a rejection of it within the zone for possible bullish movements towards the key level 112.09. My advice, wait for a pullback to the zone 107.99-107.86 and a rejection within it to buy USD with your take profit at 112.09 and stop loss at 106.89. Continue long with this pair after a clear breakout above the line 112.09 followed by a correction to it. Should there be a clear breakout below the zone 107.99-107.86, possible bearish price movements can be expected after a retracement to the just broken zone and a rejection within it.
Trade recommendation
Buy USD within 107.99-107.107.86 with your take profit at 112.09.
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.
