USDJPY – Down
Technical observation
USD is trading with an increasing bullish bias slightly below a resistance zone it established at 142.35-142.15, I expect a continuation of this upwards movement to the zone indicated above followed by a either a rejection within it or a clear break above it with a big green candle. If price is rejected within the zone I have mentioned above, I recommend that you pick short positions within the same zone with your take profit at 138.48 and stop-loss at 143.71, on the other hand in case of a break above the zone 142.35-142.15, you can expect the value of USD to ascend towards the level 146.82 after a correction to the broken zone.
Trade recommendation
Sell USD within 142.35-142.15 with your take profit at 138.48.
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