USDJPY – Down
Technical observation
USD bounced within the resistance zone 142.14-142.40 then declined for a while and currently it is trading with an increasing bullish bias. This upwards movement is a pullback to the zone indicated above and today I expect price to rally further to the upper side. My advice, remain neutral and wait for a correction to the zone 142.14-142.40 then sell a bounce within it with your take profit at 136.13. In case of a clear break below the level 136.13, wait for a pullback to it before you continue short towards 130.39. On the chart above, I can only recommend bullish positions in case of a clear break above the zone 142.14-142.40.
Trade recommendation
Wait for a correction to the zone 142.14-142.40 to sell USD.
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