USDJPY – Down
Technical observation
On the chart above USD rose above the key level 135.37 then pulled back to it before rising again for a while, today this pair is showing signs of a surge to the lower side and I expect possible bearish movements towards the level I have mentioned above followed by a rejection at it. My advice, remain flat and wait for a correction to the level I have mentioned above then buy a bounce at it with your take profit at 142.06 and stop-loss at 133.55. If price penetrates above the zone 142.06-142.49 with a big green candle, I expect the value of this pair to ascend further towards the upper resistance level 151.50 or even higher.
Trade recommendation
Wait for a correction to the level 135.27 to buy USD.
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