Remain flat temporarily. | 15 April 2020

15 April 2020, USD/JPY

Remain flat temporarily.

Technical observation

USD is still trading with an increasing bearish momentum below the supportive zone 107.99-107.86 it recently penetrated below with a big red candle. As long as USD is below 107.99-107.86, a correction to it is anticipated followed by a clear bounce within it for a rally to the lower side. Remain flat temporarily and wait for a retracement to the above-mentioned zone and a bounce within it to sell USD with your take profit at 104.96 and stop loss at 108.86. If this take profit is hit and there is clear breach below it with a big red candle, a possible surge towards the level 102.28 will be expected.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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