USDJPY – Down
Technical observation
USD is trading with an increasing bearish bias slightly above the supportive zone 137.70-137.36 and I expect it to decline and bounce within the same zone. My advice, remain flat and wait for a correction to the zone I have mentioned above then buy a bounce within it with your take profit at 145.09 and stop-loss at 135.64. In case of a clear breakout above the level 145.09, wait for a correction and a rejection at the same line before you continue long, on the hand should there be a clear penetration below the zone 137.70-137.36; you can expect the value of this pair to plunge towards the key line 130.63.
Trade recommendation
Wait for a correction to the supportive zone 137.70-137.36 to buy USD.
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