USDJPY – Down
Technical observation
USD is pulling back to the resistance zone it established at 138.25-138.92 and I expect a rejection within the same zone followed by a momentum to the lower side. My advice, remain neutral temporarily and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 126.78 and stop-loss at 142.52, if there is a clear break below the level 126.78 with a big red candle, wait for a retracement to it before you continue short towards the supportive levelS 112.70 and 102.50. On the chart above, as long as price is sustained below the zone 138.25-138.92, I can only recommend bearish positions.
Technical observation
Wait for a correction to the zone 138.25-138.92 to sell USD.
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