We're neutral | 13 Agustus 2020

13 Agustus 2020, USD/JPY

We're neutral

Technical observation

On the daily chart above price penetrated above a zone 106.67-106.50 with a big green candle and is currently rallying with an increasing bearish momentum above the just broken zone. In case there is a loss of this downwards movement within the zone 106.67-106.50 and price is contained above it, I expect bullish price movements towards the resistance key level 109.24, however, if price is not contained above the zone then the breakout above it as seen yesterday was false and you can anticipate bearish price rally. Right now remaining neutral with this pair is ideal than picking any position.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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