Bullish towards 104.91 | 02 Desember 2020

02 Desember 2020, USD/JPY

Bullish towards 104.91

Technical observation

Following its rejection within the supportive zone 104.15-104.11, USD has been trading with an increasing bullish bias and I expect this upwards movement to continue to the resistance zone 104.96-104.91 followed by a clear breakout above it with a big green candle. If you bought USD within the zone 104.15-105.11, remain in the trade with our take profit at 104.91 and stop loss at 103.84. If price breaks above the resistance zone mentioned above, wait for a pullback to it and a bounce confirming further bullish movements of price before you continue long with this par towards 105.70.

Trade recommendation

Remain bullish with your take profit at 104.91.

Imelda Maseno
Analyst of «FreshForex» company
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