Expecting a rally to 112.73 | 10 February 2022
10 February 2022, USD/JPY
Technical observation
The value of the pair on the chart above declined as I had predicted and today I expect a continuation of this bearish movement towards the supportive level 112.73. If you picked short positions within the zone I have mentioned above after a bounce, my advice is that you remain in the trade with your take profit at 112.73 and stop loss at 116.38. In case of a clear breakout below the level 112.73, I expect USD to decline further towards the supportive zone 109.23-109.05, as it is on the chart above, only bearish positions look ideal and can be recommended, bullish positions can only be advisable above the zone 115.59-115.41.
Trade recommendation
Remain short with your take profit at 112.73.
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.
