USDJPY – Down
Technical observation
Since it bounced within the resistance zone 138.67-137.90, USD has been trading with an increasing bearish bias and I still expect it to descend even further. In case you are holding short positions with this pair, remain in the trade with your take profit at the level 126.78 and stop-loss at 143.99, should there be a clear breach below the level 126.78, wait for a pullback to it before you continue short with this pair towards the supportive levels 112.70 and 102.50, on the chart above, as long as the price is sustained below the zone 138.67-137.90, only short positions looks ideal and can be recommended.
Trade recommendation
Remain short with your take profit at 126.78.
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