USDJPY – Down
Technical observation
USD rose above the zone 134.91-134.48 and it is currently trading with an increasing bearish bias above the just broken zone. This downwards movement is a correction to the zone indicated above and I expect a possible rejection of price within it followed by a rally to the upper side, however, my advice is, remain flat and wait for a second retracement to the zone 134.91-134.48 then buy a bounce within it with your take profit at 142.54 and stop-loss at 132.94. In case of a clear penetration above the level 142.54, continue long with this pair towards the upper resistance level 151.91 after a correction to the broken line.
Trade recommendation
Remain flat.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
