Buy a break above 107.046. | 02 Maret 2021

02 Maret 2021, USD/JPY

Technical Observation

Yesterday, the US Dollar rallied to the upperside but is currently around a resistance zone 107.046-106.942. While the price does not break and close above this zone, we are sellers. However, a breakout above this zone will mean we are now buyers with our next target set at 109.661. On its way upwards the key levels to look for include 107.790,108.560, and 109.330. These are the levels where is the price gets to then we will be looking for trades. ON the flip side, a break below 106.041 will provide us with a good sell place.

Trade Recommendations:

Buy a break above 107.046.

Imelda Maseno
Analyst of «FreshForex» company
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