USD/JPY Retesing a Strong Support Zone
Good morning traders, today we bring you our analysis in USD/JPY, since we consider that it is in an interesting demand zone and we must take it into account.
🔸The price broke the Descending Trendline with great momentum, but faced a Supply Zone where it began to pull-back.
🔸Now, it is retesting a support zone, where, if we analyze past scenarios, there was always some kind of reaction or rebound.
🔸Therefore, we expect a rejection of this zone in the short term, and possibly the bullish continuation.
🔸We recommend waiting for a reversal signal before considering any trade.
🔸The price broke the Descending Trendline with great momentum, but faced a Supply Zone where it began to pull-back.
🔸Now, it is retesting a support zone, where, if we analyze past scenarios, there was always some kind of reaction or rebound.
🔸Therefore, we expect a rejection of this zone in the short term, and possibly the bullish continuation.
🔸We recommend waiting for a reversal signal before considering any trade.
Penafian
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