Remain bullish towards 104.68 | 19 Januari 2021

19 Januari 2021, USD/JPY

Remain bullish towards 104.68

Technical observation

Following its rejection within the supportive zone 103.70-103.62, USD has been rising steadily towards the resistance line 104.68. My expectation is a rise to the line 104.68 followed by a clear breakout above it with a big green candle for a further surge to the upper side. If you bought USD within the supportive zone mentioned above, remain long with your take profit at 104.68 and stop loss at 103.21. In case of a clear breakout above the line 104.68 with a big green candle, wait for a retracement to it before you continue long with USD towards 105.56. I can only recommend bullish positions for this pair.

Trade recommendation

Remain long with your take profit at 104.68.

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Imelda Maseno
Analyst of «FreshForex» company
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