Looking to sell within 113.84-113.75 | 15 December 2021
15 December 2021, USD/JPY
Technical observation
On the 4 hour chart above, price has been rising steadily towards the resistance zone 113.84-113.75 and i expect a loss of this upwards movement within the same zone followed by a possible momentum to the lower side. My advice, remain flat and wait for a correction to the zone 113.84-113.75 then sell a bounce within it with your take profit at 112.74 and stop loss at 114.21. In case of a clear breakout below the level 112.74 with a big red candle, I expect the value of this pair to plunge towards the supportive level 110.80 or even lower to the level 109.12. As long as USD is below the zone 113.84-113.75, I can only recommend short positions.
Trade recommendation
Remain flat.
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.
