USDJPY – Down
Technical observation
On the chart above, the value of USD has been ascending for several days now and today I expect it to plummet further to the upper side. If you already picked bullish positions within the zone 138.75-138.2, remain in the trade with your take profit at 151.97 and stop-loss at 135.28. In case there is a clear break above the level 151.97, wait for a correction to the broken line before you continue long with this pair, however, should there be a clear penetration below the zone 138.75-138.2 with a big red candle, I recommend that you wait for a pullback to the broken zone before you short USD towards the supportive level 126.78 and 112.70.
Trade recommendation
Remain long with your take profit at 151.97.
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