Remain short | 25 Oktober 2021

25 Oktober 2021, USD/JPY

Remain short

Technical observation

USD rose up to the resistance zone 114.78-114.48 as I had predicted but could not break above it. It bounced below the zone and last week price rallied to the lower side. As it is on the weekly chart above, as long as USD is contained below the zone I have mentioned above, I expect bearish movements of price, However, in case of a clear break above the same zone with a big green candle, I expect a pullback to the broken zone and a rejection of price within it confirming possible bullish movements of price to the resistance level 125.31. If you are currently bullish with this pair, remain in the trade but not for a long time.

Trade recommendation

Remain short.

Imelda Maseno
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.