Buy USD within 107.99-107.107.86 | 10 April 2020

10 April 2020, USD/JPY

Buy USD within 107.99-107.107.86

Technical observation

USD is still correcting to the supportive zone 107.99-107.107.86 and I expect a rejection of it within the zone for possible bullish movements towards the key level 112.09. My advice, wait for a pullback to the zone 107.99-107.86 and a rejection within it to buy USD with your take profit at 112.09 and stop loss at 106.89. Continue long with this pair after a clear breakout above the line 112.09 followed by a correction to it. Should there be a clear breakout below the zone 107.99-107.86, possible bearish price movements can be expected after a retracement to the just broken zone and a rejection within it.

Trade recommendation

Buy USD within 107.99-107.107.86 with your take profit at 112.09.

Imelda Maseno
Analyst of «FreshForex» company
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