Wait for a correction to buy USD | 16 Agustus 2022

16 Agustus 2022, USD/JPY

Technical observation

USD is trading with an increasing bearish bias between a supportive zone 127.26-126.67 and a resistance level 139.36, I expect a continuation of this bearish movement to the zone mentioned above followed by a rejection within it to pick long positions with my take profit at 139.36 and stop-loss at 123.81. If there is a clear break above the level 139.36 with a big red candle, I anticipate a further surge to the upper side after a correction to the broken line, however, in case of a clear break below the zone indicated above, I expect possible bearish movements of price towards the level 112.70 after a pullback to the broken zone and a bounce within it.

Trade recommendation

Wait for a correction to the zone 127.26-126.67 to buy USD.

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.