we are flat temporarily | 30 May 2022

30 May 2022, USD/JPY

Technical observation

USD is trading with an increasing bullish momentum below the resistance zone 127.50-127.41, this upwards movement is a correction to the zone I have mentioned and I expect it to continue to the same zone then bounce within it. My advice, remain flat and wait for a correction to the zone I have mentioned above then pick short positions within it after a bounce with your take profit at 126.35 and stop-loss at 127.96. If price breaks below the level 126.35, I expected a correction to it and a bounce followed by further bearish movements towards the supportive level 124.76. As long as price is sustained below the zone 127.50-127.41 I can only recommend short positions.

Trade recommendation

Remain flat temporarily.


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.
Imelda Maseno
Analyst of «FreshForex» company
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