Buy USD within 107.99-107.86 | 13 April 2020

13 April 2020, USD/JPY

Buy USD within 107.99-107.86

Technical observation

USD continues to rally with an increasing bearish bias towards the supportive zone 107.99-107.86 and I expect a loss of this bearish price rally within the zone. You can pick long positions within the zone with your take profit at 112.09 and stop loss at 106.83. Further bullish movements of price can be anticipated should there be a clear breakout above the level 112.09 with a big green candle followed by a correction to it. In case there be a clear breakout below the supportive zone 107.99-107.86 with a big red candle, a possible surge to the lower side towards the level 104.96 can be expected after a correction.

Trade recommendation

Buy USD within 107.99-107.86 with your take profit at 112.09.

Imelda Maseno
Analyst of «FreshForex» company
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