Remain short | 27 April 2020

27 April 2020, USD/JPY

Remain short

Technical observation

For several days now, the pair on the daily chart above has been trading below the resistance zone 107.99-107.86 with an increasing bearish momentum. Currently it is rallying downwards and I expect this bearish movement to continue to the key level 104.96. If you sold USD within the zone mentioned above after a rejection, remain short with your take profit at 104.96 and stop loss at 108.86. In case there is a clear breakout below the supportive level 104.96 with a big red candle, wait for a retracement to it and a bounce before you continue short with USD towards the lower supportive level 102.28.

Trade recommendation

Remain short with your take profit at 104.96.

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 .