USDJPY – Down
Technical observation
USD has been stagnating below the resistance level it established at 144.81 however I still anticipate possible bearish movements of price, the expected momentum to the lower side is a correction to the supportive level 139.18 and I expect a rejection of price at it to pick long positions with my take profit at 144.81 and stop-loss at 137.49. In case of a clear break below the level 139.18 with a big red candle, I expect the value of USD to surge to the lower side after a pullback to the broken line, on your way downwards the key levels to look for include; the supportive zone 135.78-135.49, 130.34 and the lowest supportive level 124.74.
Trade recommendation
Remain neutral.
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