Looking to sell within 114.71-114.64 | 18 January 2022

18 January 2022, USD/JPY

Looking to sell within 114.71-114.64

Technical observation

On the 4 hour chart above, price rose steadily to the resistance zone 114.71-114.64 but could not break above it, yesterday, it closed below the zone and as long as it is sustained below the same zone, I expect USD to plummet towards the supportive level 110.82. I would advise that you pick short positions within the zone mentioned above with your take profit at 110.82 and stop loss at 115.19. In case of a clear break below the level 110.82 with a big red candle, I expect a further momentum towards the lower supportive level 109.14. On the other hand, in case of a clear break above the zone 114.71-114.64, I expect bullish movements towards 116.35.

Trade recommendation

Sell USD within 114.71-114.64 with your take profit at 110.82.

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