Wait | 29 March 2022
29 March 2022, USD/JPY
Technical observation
Last week USD rose and hit our take profit at the level 123.23, this week I expected a possible retracement towards the supportive zone 113.67-114.15 however, yesterday price opened bullish and rose above the level 123.23 with a big green candle. If price continues upwards throughout the week and closes above the level mentioned above, wait for a correction to it and buy a bounce at it towards 135.01, but in case price picks bearish momentum, wait for a pullback to the supportive zone 113.67-114.15 to re-buy USD with your take profit at 123.23. Right now remaining neutral with the pair above is ideal than picking any 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.
