USDJPY – Down
Technical observation
USD retraced to the zone 135.30-135.20 but did not break above it and currently it is trading with an increasing bullish bias within the same zone. My expectation is a bounce within the zone mentioned above followed by a surge to the supportive level 133.29. I would advise that you pick short positions within the zone 135.30-135.20 with your take profit at 133.29 and stop-loss at 135.80. In case of a clear penetration below the level 133.29, I expect a further surge to the supportive level 131.49 after a correction to the broken line. As long as the value of USD is sustained below the zone 135.30-135.20, I can only recommend bullish positions.
Trade recommendation
Sell USD within 135.30-135.20 with your take profit at 133.29.
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