Remain bearish towards 130.40 | 05 Agustus 2022

05 Agustus 2022, USD/JPY

Technical observation

On the hourly chart above price pulled back to the resistance zone 134.50-134.31 but did not break above and since then it has been trading with an increasing bearish bias. As long as USD is sustained below the zone I have indicated above I expect a continuation of this downwards movement to the supportive level 130.40 and if you are currently holding short positions with the pair above, remain in the trade with your take profit at 130.40 and stop-loss at 135.78. In case of a penetration below the level 130.40 with a big red candle, I anticipate further bearish movements of price towards the supportive level 126.78.

Trade recommendation

Remain short with your take profit at 130.40

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.
manager photo manager photo
Online-support
Dengan senang hati, kami akan menjawab pertanyaan Anda

Tulis

Get bonus