We're flat | 14 August 2020

14 August 2020, USD/JPY

We're flat

Technical observation

The pair on the chart above is still trading with an increasing bullish momentum above a zone 106.67-106.50 it recently broke above with a big green candle. I expect a correction to the just broken zone followed by a rejection within it to long this pair towards the resistance line 109.24. My advice, remain flat and wait for a correction to the zone 106.67-106.50 and a bounce within it to buy USD with your take profit at 109.24 and stop loss at 105.47. On the daily chart above, as long as the value of USD is contained above the zone 106.67-106.50 you can only expect upwards movements of price.

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