We are neutral. | 11 November 2022

11 November 2022, USD/JPY

We are neutral.

Technical observation

USD broke below the zone 145.47-145.1 then declined to a key level 140.65 where it was rejected and since then it has been trading with an increasing bullish bias. This upwards movement is a correction to the zone I have mentioned above and I expect a possible rejection of price within it followed by a momentum to the lower side. My advice, remain flat and wait for a correction to the zone 145.47-145.1 then sell a bounce within it with your take profit at 140.65 and stop-loss at 146.92, should there be a clear break below the level 140.65 with a big red candle, continue short towards the level 135.78 after a correction to the broken line.

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.
Imelda Maseno
Analyst of «FreshForex» company
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