Remain flat | 19 June 2020
19 June 2020, USD/JPY
Technical observation
On the 4-hour chart above, price is trading between a supportive level 105.99 and a resistance zone 107.97-107.88. My expectation is either a rise to the resistance zone followed by a bounce within it or, a decline to the support followed by a clear breakout below it. In case of a rise to the zone 107.97-107.88 sell USD within it after a bounce with your take profit at 105.99 and stop loss at 108.27. In case of a clear breakout below the line 105.99, wait for a pullback to the just broken line and a rejection at it to confirm possible bearish movements of price before you sell USD with your take profit at 103.49.
Trade recommendation
Remain flat.
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.
