USDJPY – Down
Technical observation
USD pulled back to the level 135.06 then bounced at it an since then it has been trading with an increasing bearish bias, today I expect a continuation of this downwards movement and in case you are holding short positions with this pair, i recommend you remain in the trade with your take profit at 132.20 and stop-loss at 136.09. Should there be a clear penetration below the supportive zone 132.20-132.08, wait for a pullback and a rejection within It before you pick short positions towards the supportive level 129.62, but in case of a clear break above the level 132.20, I anticipate possible upwards movements of price towards 137.92.
Trade recommendation
Remain short with your take profit at 132.20.
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