Remain flat | 24 April 2020

24 April 2020, USD/JPY

Remain flat

Technical observation

USD is stagnating below the resistance zone 107.99-107.86 it penetrated below some weeks ago and right now, i expect either a decline to the supportive level 104.96 or a clear breakout above the zone. If you are currently neutral with USD, remain so and wait for a bounce within the zone 107.99-107.86 to sell USD with your take profit at 104.96 and stop loss at 108.86. In case of a breach below the level 104.96, further bearish price movements towards 102.28 can be expected. On the flip side, in case of a penetration above the zone 107.99-107.86 with a big green candle, bullish price movements can be anticipated.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .