Remain flat | 30 June 2020
30 June 2020, USD/JPY
Technical observation
On the chart above, price broke above a resistance zone 107.51-107.45 with a big green candle and is currently trading above the just broken zone with an increasing bearish momentum. I expect a rejection of this bearish rally within the zone 107.51-107.45 for possible upwards movements. My advice, remain flat temporarily and wait for a rejection within the zone 107.51-107.45 to buy USD with your take profit at 108.46 and stop loss at 107.07. As long as USD is contained above the zone 107.51-107.45, we can only anticipate bullish movements. We can only recommend short positions below 107.51-107.45.
Trade recommendation
Remain flat temporarily.
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.
