Wait | 15 March 2021
15 March 2021, USD/JPY
Technical observation
On the daily chat above, if you bought USD within the zone 106.94-106.66, remain long and pick your profits at 109.58. However, if your currently neutral with this pair, you can anticipate a bounce at the line 109.5 followed by a correction to the zone mentioned above to pick long positions. In case there is a penetration above the line 109.58 with a big green candle, wait for a correction to the just broken line and a bounce at it to confirm a possible momentum to the upper side before you pick long positions towards 112.12. In case of a break below the zone 106.94-106.66, I expect a decline to the zone 104.78-104.58.
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.
