30 June 2020, USD/JPY
On the chart above, price broke above a resistance zone 107.51-107.45 with a big green candle and is currently trading above the just broken zone with an increasing bearish momentum. I expect a rejection of this bearish rally within the zone 107.51-107.45 for possible upwards movements. My advice, remain flat temporarily and wait for a rejection within the zone 107.51-107.45 to buy USD with your take profit at 108.46 and stop loss at 107.07. As long as USD is contained above the zone 107.51-107.45, we can only anticipate bullish movements. We can only recommend short positions below 107.51-107.45.
Remain flat temporarily.