USDJPY – Down
Technical observation
USD retraced to the supportive zone 126.23-127.25 but could not break below it, instead it bounced within the zone and since then it has been trading with an increasing bullish bias. This week I expect a continuation of this upwards movement and in case you are currently holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 152.01. In case of a penetration above the level 152.01 with a big green candle, wait for a correction to the broken line before you continue long with this pair, on the chart above, I can only recommend short positions below the zone 126.23-127.25.
Trade recommendation
Remain long with your take profit at 152.01.
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