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Remain short

Remain short | 28 December 2020

28 December 2020, USD/JPY

Technical observation

USD bounced within the resistance zone 103.73-103.68 and is currently trading with an increasing bearish bias, I expect this downwards movement to continue to the supportive level 103.03 followed by a possible breakout below it, and however, price can still be rejected at the line. If you sold USD within the zone mentioned above after a bounce, remain short with your take profit at 103.03 and stop loss at 104.03. In case of break above the zone 103.73-103.68 with a big green candle, wait for a correction to the just broken zone confirming possible bullish movements of price before you buy USD towards 104.52.

Trade recommendation

Remain short with your tp at 103.03.

Imelda Maseno
Analyst of «FreshForex» company
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