We're flat | 10 Desember 2020

10 Desember 2020, USD/JPY

We're flat

Technical observation

USD broke above a resistance zone 104.31-104.28 with a big green candle and is currently trading with an increasing bearish momentum above it. I expect this downwards movement to continue to the zone mentioned above followed by a bounce within it to buy USD. My advice, remain flat and wait for a correction to the zone 104.31-104.28 and a rejection within it to buy this pair with your take profit at the resistance level 104.57 and stop loss at 104.19. On the hourly cart above, as long as price is contained above the zone 104.31-104.28, you can only anticipate bullish movement of this pair.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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