We're flat | 10 September 2020
10 September 2020, USD/JPY
Technical observation
USD is trading with an increasing bearish momentum between a supportive zone 104.74 and a resistance zone 108.17-107.94. I expect either a decline to the supportive line104.74 followed by a clear breakout below it with a big red candle to sell USD or a rise to the above mentioned resistance zone followed by a clear breakout above it for bullish movements of price. In case of a break below 104.74, sell USD at it after a correction with your take profit at 102.28 and stop loss at 105.56, and should there be a break above 108.17-107.94, buy USD within it after a retracement to it. Right now, remain flat with USD.
Trade recommendation
Remain neutral.
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.
