USDJPY – Down
Technical observation
USD pulled back to the zone it established at 134.70-134.89 then bounced within it and since then it has been trading with an increasing bearish bias .As long as the price is sustained below the zone indicated above, I expect a continuation of this downwards movement and in case you sold this pair within the same zone, my advice is, remain in the trade with your take profit at 127.21 and stop-loss at 135.95. If the price clearly declines below the level 127.21, wait for a correction to the broken line before you continue short with USD, on the chart above, I can only recommend bullish positions in case of a break above the zone 134.70-134.89.
Trade recommendation
Remain short with your take profit at 127.21.
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