We are flat | 14 April 2022

14 April 2022, USD/JPY

Technical observation

USD is trading with an increasing bearish bias between the supportive zone 124.87-124.77 and a resistance level 126.12 and I expect a continuation of this downwards movement to the zone mentioned above followed by a rejection within it to pick long positions. As long as the value of the pair above is contained above the zone 124.87-124.77, I expect a possible momentum to the upper side, and in case of a penetration below the same zone with a big red candle, I expect a possible momentum to the lower side after a correction to the broken zone. Right now as it is on the chart above remaining neutral is ideal than picking any positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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