USDJPY – Down
Technical observation
On the chart above, USD rose above the zone 138.75-137.90 and it is currently trading with an increasing bearish momentum. This downwards movement is a pullback to the zone I have indicated above and I expect a possible rejection within it followed by a surge to the upper side. However, I recommend that you wait for a second correction to the zone I have mentioned above before you buy USD with your take profit at 151.97 and stop-loss at 135.68. If there is a clear break above the level 151.97, wait for a correction to it before you continue long. As long as USD Is sustained above the zone 138.75-137.90, I can only recommend bullish positions.
Trade recommendation
Remain neutral.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
