15 Abril 2021, USD/JPY
Technical observation
USD is trading with an increasing bearish bias between the supportive zone 105.15-104.64 and a resistance line 114.80, my expectation is a decline to the supportive zone mentioned above followed by a rejection within it for a momentum to the upper side. In case of a clear breakout above the line 114.80 with a big green candle, you can anticipate a further rally to the upper side after a correction to the just broken line. However, should there be a clear break below the zone 105.15-104.64 with a big red candle; i expect bearish movements of this pair after a retracement to the just broken zone and a bounce within it.
Trade recommendation
Remain flat.
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