We are neutral. | 21 September 2022

21 September 2022, USD/JPY

We are neutral.

Technical observation

USD is still consolidating between the resistance level 144.97 and the supportive level 141.67 and currently it is trading with an increasing bullish bias, however, I expect a loss of this upwards movement followed by a momentum towards the level 141.67. My advice remain flat and wait for a correction to the level 141.67 then buy a bounce at it with your take profit at 144.97 and stop-loss at 140.84, If price clearly breaks above the level 144.97, I expect it to plummet further to the upper side, but in case of a break below the level 141.67, I expect a possible surge to the lower side towards the supportive level 139.14.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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