Remain long | 26 May 2020

26 May 2020, USD/JPY

Remain long

Technical observation

On the hourly chart above, price penetrated above a resistance line 107.82 with a big green candle then retraced to it. Price however bounced at the line and is currently trading with an increasing bullish momentum. I expect this upward movement to continue to the resistance line 108.54 followed by a possible penetration above it for further bullish price rally of this pair. If you bought USD at the key level 107.82 after a rejection, remain long with your take profit at 108.54 and stop loss at 107.65. As long as price is contained above the line 107.82, we can only anticipate bullish movements of USD.

Trade recommendation

Remain long with your take profit at 108.54.

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