Wait | 23 September 2021

23 September 2021, USD/JPY

Technical observation

USD rose and broke above zone 109.74-109.71 with a big green candle, it then retraced to the broken zone but was rejected within it and as long as price is above the zone 109.74-109.71, I can only recommend bullish positions for this pair. Right now USD is trading with and increasing bearish momentum and I expect this downwards movement to continue to the zone I have mentioned above followed by a rejection within it for rally to the upper side. My advice, remain flat and wait for a correction to the zone supportive 109.74-109.71 then buy USD within it with your take profit at 110.14 and stop loss at 109.60.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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