Remain flat | 29 April 2020

29 April 2020, USD/JPY

Remain flat

Technical observation

After its rejection within the zone 107.33-107.29, USD declined steadily up to a supportive level 106.62 and was rejected at it. Currently this pair is trading above the supportive level mentioned above with an increasing bearish momentum and I expect a possible penetration below it with a big red candle. If you sold USD yesterday within the zone 107.33-107.29 after a rejection, at the level 106.62 was the ideal place to pick your profits. Right now my advice, remain flat and wait for a clear penetration below 106.62 with a big red candle and a correction to it followed by a bounce to short USD.

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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus