we are neutral | 26 April 2022

26 April 2022, USD/JPY

Technical observation

Last week the value of the pair above ascended with a big green candle, however, this week it opened bearish and I expect a continuation of this downwards movement to the supportive level price established at 125.60 followed by a rejection at it to pick long positions with my take profit at 137.27 and stop-loss at 122.52. In case USD is not sustained d above the level 125.60 but clearly breaks below it with a big red candle, I would advise that you wait for a correction to the broken line and a bounce at it before you pick short positions. 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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