USDJPY – Down
Technical observation
USD bounced at the resistance level 140.59 and since then price declined with two consecutive candles and this week I expect a further surge to the lower side. My advice, remain neutral and wait for a correction to the supportive zone 135.80-135.50 then buy a bounce within it with your take profit 140.59 and stop-loss at 133.89, if price clearly breaks above the level 140.59 with a big green candle, I expect it to surge further to the upper side after a pullback to the broken line, but if there is a clear break below the zone I have mentioned above, I expect price to plummet towards the supportive 130.68 or even lower to the level 126.33.
Trade recommendation
Wait for a correction to the zone 135.80-135.50 to buy USD.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
