USDJPY – Down
Technical observation
On the 4 hour chart above price is trading with an increasing bullish bias at the resistance level 145.06 and my expectation is either a clear break above this level with a big green candle, or a rejection of price at it followed by a correction to the supportive zone price established at 140.66-140.33. If there is a clear break above the level 145.06, wait for a correction and a rejection of price at it before you continue long with USD, on the other hand, in case of a retracement to the zone I have mentioned above, re-buy this pair within it after a bounce with your take profit still at 145.06 and stop-loss at 138.47.
Trade recommendation
Remain flat.
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