USDJPY – Down
Technical observation
USD retraced to the supportive zone 139.89-138.72 and it is currently trading within it with an increasing bearish bias; i expect a loss of this downwards movement within the same zone followed by a rally to the upper side. As it is on the chart above, I recommend that you pick bullish positions now within the zone 139.89-138.72 with your take profit at 151.97 and stop-loss at 133.88. If there is a clear break above the level 133.88 with a big green candle, a further momentum to the upper side can be expected after a correction to the broken line. I can only recommend short positions below the zone 139.89-138.72.
Trade recommendation
Buy USD now within the zone 139.89-138.72 with your take profit at 151.97.
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