Buy USD within 107.99-107.86 | 13 April 2020
13 April 2020, USD/JPY
Technical observation
USD continues to rally with an increasing bearish bias towards the supportive zone 107.99-107.86 and I expect a loss of this bearish price rally within the zone. You can pick long positions within the zone with your take profit at 112.09 and stop loss at 106.83. Further bullish movements of price can be anticipated should there be a clear breakout above the level 112.09 with a big green candle followed by a correction to it. In case there be a clear breakout below the supportive zone 107.99-107.86 with a big red candle, a possible surge to the lower side towards the level 104.96 can be expected after a correction.
Trade recommendation
Buy USD within 107.99-107.86 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.
