Remain flat | 25 Mei 2020

25 Mei 2020, USD/JPY

Remain flatRemain flat

Technical observation

On the daily chart above, price is trading below the resistance zone 107.99-107.79 with an increasing bullish momentum. My expectation is either a loss of this bullish movement within the above-mentioned zone for possible bearish price rally towards the supportive level 104.96, or, a clear penetration above the zone with a big green candle for bullish movements of price. In case of a rejection within the zone 107.99-107.79, sell USD within it with your take profit at 104.96 and stop loss at 108.73. However, in case of a clear breach above the zone, wait for a correction to it before you pick long positions.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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