Looking to buy within 107.84-107.46 | 22 September 2021
22 September 2021, USD/JPY
Technical observation
On the chart above, price is trading with an increasing bearish bias slightly above a supportive zone 107.84-107.46, this bearish movement is a correction to the zone I have mentioned above and I expect it to continue to the same zone followed by a rejection within it for a momentum to the upper side. My advice, wait for a retracement to the zone 107.84-107.46 and a rejection within it to buy USD with your take profit at 114.08 and stop loss at 105.77.In case there is a clear breakout below the supportive zone 107.84-107.46 with a big red candle, wait for a correction to the broken zone and rejection within it before you pick short positions.
Trade recommendation
Wait for a correction to the zone 107.84-107.46 to buy USD.
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.
