We're bearish towards 104.96. | 01 Mei 2020

01 Mei 2020, USD/JPY

We're bearish towards 104.96.

Technical observation

USD is declining steadily towards the key level 104.96 and my expectation is a clear penetration below it with a big red candle. If you sold this pair within the zone 107.99-107.79 after a rejection, remain short with your take profit at 104.96 and stop loss at 108.84. In case of a breach below the line 104.96, wait for a correction and a rejection at it that confirms further bearish price movements before you continue short with this pair towards the lower supportive level 102.28. On the daily chart above, as long as price is contained below the resistance zone 107.99-107.79, only short positions look ideal.

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.