USDJPY – Down
Technical observation
USD rose to the resistance level 151.88 but did not break above it, instead it bounced at this line and right now it is trading with an increasing bullish bias. This downwards movement is a correction to the supportive zone price established at 140.33-139.45 and I expect a possible rejection of price within it to re-buy USD. My advice, remain neutral and wait for a correction to the zone I have indicated above, then buy USD within it with your take profit at 151.88 and stop-loss at 135.79. If there is a clear break below the zone 140.33-139.45 with a big red candle, a possible surge towards the supportive level 131.42 can be expected after a pullback to the broken zone.
Trade recommendation
Wait for a correction to the zone 140.33-139.45 to buy USD.
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