We are neutral | 02 Februari 2023

02 Februari 2023, USD/JPY

Technical observation

USD has been trading with an increasing bearish bias for some time now and as it is on the hourly chart above, I expect a continuation of this bearish movement towards the supportive level 127.11 followed by either a bounce at it or a clear break below it with big red candle. In case of a rejection of price at the supportive level 127.11, wait for a correction to the resistance zone 134.11-134.45 to re-sell USD with your take profit at 127.11 and stop-loss at 135.74, and should there be a clear break below the level 127.11, wait for a correction and a bounce at it before you continue short with this pair.

Trade recommendation

Remain flat.

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.