Remain long | 13 May 2021

13 May 2021, USD/JPY

Remain long

Technical observation

USD retraced to the supportive zone 108.08-107.7 but did not break below it, price bounced within the zone and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance zone 115.64 followed either a clear breakout above it or a rejection at it. If you bought USD within the zone mentioned above after a bounce, remain long with your take profit at 115.64 and stop loss at 106.30. Should there be a clear break below the zone 108.08-107.78 with a big red candle, wait for a correction to the just broken zone and a rejection within it confirming a possible rally to the lower side before you short USD.

Trade recommendation

Remain long with your take profit at 115.64.

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