Remain short | 23 April 2020

23 April 2020, USD/JPY

Remain short

Technical observation

On the daily chart above, price is still stagnating below the resistance zone 107.99-107.86. I expect either bearish price movements towards the supportive level 104.96 or, a clear breakout above the zone 107.99-107.86 with a big green candle. If you picked short positions within 107.99-107.86 after a bounce, remain short with your take profit at 104.96 and stop loss at 108.88. In case this take profit is hit and there is a clear breakout below it with a big red candle, continue short with this pair towards the lower supportive level 102.28. However, if you are a bit sceptic to trade this pair now, remain flat with USD.

Trade recommendation

Remain short with your take profit at 104.96.

Imelda Maseno
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.