We're neutral | 29 September 2021
29 September 2021, USD/JPY
Technical observation
USD has been trading with an increasing bullish bias for three consecutive weeks between the supportive zone 107.84-107.46 and a resistance level 114.08, this week, the value of this pair is rising steadily with a big green candle and I expect it to continue upwards for the rest of the week. For the pair above, wait for either a rise to the level 114.08 followed by a clear breakout above it with a big green candle to buy USD with your take profit at 121.53 and stop loss at 112.40.Or, pullback to the supportive zone 107.84-107.46, followed by a bounce within it to buy USD. I can only recommend short positions below the zone 107.84-107.46.
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.
