Expecting a surge to 124.71 | 31 March 2022

31 March 2022, USD/JPY

Expecting a surge to 124.71

Technical observation

On the 4 hour chart above, price pulled back to a supportive zone 121.61-121.39 for a second time but could not break below it and the two previous candles traded with an increasing bullish bias. I expect a continuation of this upwards movement to the resistance level 124.71 followed by either a clear breakout above it with a big green candle, or a rejection of price at it followed by another correction to the zone mentioned above. If you are currently holding long positions with the pair, remain in the trade with your take profit at 124.71 and stop loss at 120.38. I can only recommend short positions below the zone 121.61-121.39.

Trade recommendation

Remain long with your take profit at 124.71.

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