Sell USD within the zone 134.17-133.09 | 10 January 2023

10 January 2023, USD/JPY

Technical observation

USD declined below the zone 134.17-133.09 with a big red candle and it is currently trading below it with an increasing bullish bias below the same zone. This upwards movement is a correction to the zone I have mentioned above and I expect a 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 134.17-133.09 then pick short positions within it after a bounce with your take profit at 103.31 and stop-loss at 139.03, in case of a clear break below the level 103.31, I expect the value of USD to descend further towards the lower supportive level 76.33.

Trade recommendation

Sell USD within the zone 134.17-133.09 with your take profit at 103.31.


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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