Remain flat temporarily. | 21 Mei 2020

21 Mei 2020, USD/JPY

Remain flat temporarily.

Technical observation

USD is trading below the resistance zone 107.99-107.79 with an increasing bullish momentum. My expectation is either a rejection of this bullish movement within the zone for bearish price rally or a clear breakout above the zone with a big green candle. In case of a bounce within the zone 107.99-107.79, sell USD within it with your take profit at 104.96 and stop loss at 108.88. However, in case of a clear penetration above the zone with a big green candle, wait for a correction to it to confirm possible bullish movements of price before you buy this pair with your take profit at the resistance line 112.09.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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