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We're bullish within 109.58-109.52

We're bullish within 109.58-109.52 | 25 Agustus 2021

25 Agustus 2021, USD/JPY

Technical observation

USD is declining steadily towards the supportive zone it established at 109.58-109.52, this bearish movement is a retracement to the zone mentioned above and I expect a bounce within it for a momentum to the upper side. My advice, remain neutral temporarily and a buy a bounce within the zone 109.58-109.52 with your take profit at 110.75 and stop loss at 109.28. As long as price is contained above the supportive zone 109.58-109.52, I expect a momentum to the upper side, however, in case of a clear penetration below the same zone with a big red candle, I expect price to plummet to the lower side.

Trade recommendation

Buy a bounce within the zone 109.58-109.52.

Imelda Maseno
Analyst of «FreshForex» company
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