Remain long towards 109.36 | 19 March 2021

19 March 2021, USD/JPY

Remain long towards 109.36

Technical observation

USD rose then retraced to a supportive zone it established at 108.88-108.82, price was rejected within the same zone and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance line 109.36 followed by either a clear breakout above it with a big green candle, or a rejection at it. In case you bought USD within the zone mentioned above after a bounce, remain long with your take profit at 109.36 and stop loss at 108.61. Should there be a breakout below the zone 108.88-108.82 with a big red candle, I expect the value of this pair to plummet to the lower side towards 108.33.

Trade recommendation

Remain long with your take profit at 109.36.

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 .