Expecting a pullback to the zone 131.41-130.79 | 06 July 2022

06 July 2022, USD/JPY

Expecting a pullback to the zone 131.41-130.79

Technical observation

On the daily chart above price is trading with an increasing bullish bias slightly below the resistance level 137.01 and i expect a loss of this upwards movement at the level mentioned above followed by a retracement to the supportive zone 131.41-130.79, my advice, remain neutral and wait for a correction to the zone I have indicated above then pick long positions within it with your take profit at 137.01 and stop-loss at 127.19. If this take profit is hit and there is a clear break above it with a big green candle, I expect price to ascend further after a correction to the broken line. I can only recommend short positions in case of a clear break below 131.41-130.79.

Trade recommendation

Wait for a correction to the zone 131.41-130.79 to buy USD.

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