Wait for a correction to the zone 131.75-131.49 | 30 June 2022

30 June 2022, USD/JPY

Wait for a correction to the zone 131.75-131.49

Technical observation

On the 4 hour chart above price trading with an increasing bullish bias below the level 136.65 and I expect either a clear break above it with a big green candle, or a rejection at it followed by another correction to the supportive zone 131.75-131.49. My advice, remain neutral and wait for a correction to the zone mentioned above to buy USD with your take profit 136.65 and stop-loss at 121.69.Should there be a clear break below the zone mentioned above with a big red candle, wait for a correction to it before you pick short position, on your way downwards the key levels to look for include, 126.54, 121.16 and 116.71.

Trade recommendation

Wait for a correction to the zone 131.75-131.49 to buy USD.


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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