Remain flat | 15 June 2020

15 June 2020, USD/JPY

Remain flat

Technical observation

On the chart above, price is trading with an increasing bearish momentum between a resistance zone 108.02-107.93 and a supportive zone 106.00. My expectation is either decline to the supportive line followed by a clear breakout below it with a big red candle, or a rise to the zone mentioned above followed by a clear breach above it. In case of a break above 108.02-107.93, wait for a correction to it and a bounce before you pick long positions and should USD break below 106.00, wait for retracement to it and a rejection before you sell this pair. Right now remaining flat is ideal than picking any position.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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