USDJPY – Down
Technical observation
On the chart above, price rose to the resistance zone 134.86-134.62 but did not break above it, instead it bounced within the same zone and it is currently trading with an increasing bearish bias. As long as the value of USD is sustained below the zone indicated above, I expect a continuation of this bearish movement and in case you are holding bearish positions with this pair, I recommend that you remain in the trade with your take profit at 127.56 and stop-loss at 137.24 .If price breaks above the zone 134.86-134.62 with a big green candle, I expect it to ascend towards the resistance levels 142.25 or even higher to 151.96.
Trade recommendation
Remain short with your take profit at 127.56.
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