We're short within 103.63-103.59 | 22 January 2021

22 January 2021, USD/JPY

Technical observation

USD is trading below a resistance zone 103.63-103.59 with an increasing bullish bias. I expect a loss of this bullish movement within the same zone for a rally to the lower side to the key level 102.99. My advice, remain flat temporarily and sell a bounce within the zone mentioned above with you take profit at 102.99 and stop loss at 103.88. If this take profit is triggered and there is a clear breakout below it with a big red candle, wait for a correction to it before you continue further downwards with your take profit at 102.58. A long as USD is contained below 103.63-103.59, I can only recommend short positions.

Trade recommendation

Sell USD within 103.63-103.59 with your take profit at 102.99.

One of the highest demand products in FreshForex is invest-portfolios. Invest-portfolio is an optimal tool for both beginners and experienced traders due to its high efficiency and low work efforts.

This is the fifth portfolio developed by FreshForex specialists. In 2020, we proposed traders four investment portfolios, each of which demonstrated positive results. The total return was 71.5%.

2 steps to get the Invest-portfolio:

1. Fund your trading account with $50 or more from January 18 to 29, 2021.

2. Send a request to school@freshforex.com with your account number funded.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .