USDJPY – Down
Technical observation
USD rose steadily to the resistance level 145.09 but did not break above it, instead it bounced at the same line and it is currently trading with an increasing bearish bias and today I expect the price to descend further, the anticipated downwards movement is a correction to the supportive zone 138.88-138.63 and I expect a possible rejection within it followed by a momentum to the upper side. My advice, remain neutral and wait for a correction to the zone I have indicated above then buy USD within it with your take profit at 145.09 and stop-loss at 137.15. If there is a clear break above the level 145.09, I expect further upwards movement of price.
Trade recommendation
Remain flat.
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