We are neutral | 04 April 2022

04 April 2022, USD/JPY

Technical observation

Last week USD rose up to the resistance level 123.23 as anticipated but could not break above it, instead it bounced at the level and this week I predict possible bearish movements of price. The expected momentum to the lower side is a correction to the supportive zone this pair established at 114.15-113.67 and I expect a rejection of price within it to re-buy USD with my take profit at 123.23 and stop-loss at 111.08. In case of a clear breakout above the level 123.23 with a big green candle I expect the value of this pair to ascend further, however, should there be a break below the zone 114.15-113.67, I expect a surge to the lower side.

Trade recommendation

Remain neutral.

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