USDJPY – Down
Technical observation
Since it bounced at the resistance level 144.81 USD has been trading with an increasing bearish bias and today I expect a continuation of this downwards movement towards the supportive level 139.86.As it is on the chart above, I would recommend that you remain neutral and wait for a correction to the level 139.86 then buy a bounce within it to with your take profit at 144.81 and stop-loss at 138.03, in case price is not sustained above the supportive level 139.86 but clearly breaks below it with a big red candle, I expect the value of USD to plunge towards the zone 135.78-135.49 or even lower to the key level 130.34.
Trade recommendation
Remain neutral.
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