28 Agosto 2020, USD/JPY
Technical observation
USD penetrated a supportive zone 106.19-106.12 with abig red candle but cold not be contained below the same zone. Yesterday price broke above the same zone with abig green candle and is currnetly ralling with an increading bearish momentum. I expect a loss of this bearish rally within the zone 106.19-106.12 for possible upwards movement of price towrads the key resistnace zone 107.35-107.27. My advice, wait for a correction to the zone 106.19-106.12 and a rejection within it to buy USD with your take profit at 107.27 and stop loss at 105.90. Only bullish positiosn look oideal for pair on the chart above.
Trade recommendation
Wait for a pullback to106.19-106.12 to buy USD.