03 May 2019, USD/JPY
Technical observation
Yesterday USD went up to the zone 111.76-111.69 as predicted and could not penetrate above it, currently price is still below the zone and my expectation is a correction to it and a bounce within it for downwards movement of USD. You can wait for a retracement to 111.76-111.69 and a rejection within it to sell USD with your take profit at 110.91 and stop loss at 111.95, if this take profit is hit and there’s a clear break below it with a big red candle, wait for a correction to the just broken line to confirm further bearish movements of USD before you continue short with this pair towards the lowest key level marked at 110.02
Trade recommendation
Wait for a retracement to 111.76-111.69 to sell USD.
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