Remain neutral | 05 June 2020

05 June 2020, USD/JPY

Remain neutral

Technical observation

USD has been rising steadily towards a resistance line 109.22. I expect either a clear breakout above the line with a big green candle, or a correction to the supportive zone 107.89-107.98. In case of a retracement to the zone 107.89-107.98, buy a bounce within it with your take profit at 109.22 and stop loss at 107.32. However, should there be a clear penetration above the line 109.22 with a big green candle, wait for a correction to the just broken line and a bounce to buy USD with your take profit at 111.58 and sop loss at . I can only recommend short positions below the zone 107.89-107.98.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus