We're long | 02 June 2020
02 June 2020, USD/JPY
Technical observation
On the hourly chart above, USD retraced to a supportive zone 107.37-107.35 but did not break below it. Price was contained above the zone and is currently trading with an increasing bullish momentum. If you bought this pair within the above-mentioned zone after a bounce, remain long with your take profit at 107.93 and stop loss at 107.12. In case of a clear breakout above the line 107.93 with a big green candle, wait for a pullback to it before you continue long with USD. As long as price is contained above the supportive zone 107.37-107.35, I can only recommend long positions for this pair.
Trade recommendation
Remain long with your take profit at 107.93.
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.
