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Expect a momentum towards 114.04

Expect a momentum towards 114.04 | 28 April 2021

28 April 2021, USD/JPY

Expect a momentum towards 114.04

Technical observation

USD retraced to the supportive zone 108.08-107.78 but could not bra below it, it was sustained above the zone and as long as it is above it, I expect only a momentum to the upper side. However, in case of a clear breakout below the same zone, you can expect a surge to the lower side after a pullback to the just broken zone and rejection within it. In case you bought USD within 108.08-108.78 after a bounce, remain long with your take profit at 114.04 and stop loss at 106.15. If price breaks above the level 114.04, it will confirm that price is still within the buyers reach therefore you can expect further upwards movements toward 118.64.

Trade recommendation

Remain bullish with your take profit at 114.04.

Imelda Maseno
Analyst of «FreshForex» company
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