22 Noviembre 2021, USD/JPY
Technical observation
USD is trading with an increasing bullish bias below a resistance zone 114.05-114.02 and i expect a loss of this upwards movement within the zone followed by a surge to the lower side. My advice, sell a bounce within the zone I have mentioned above with your take profit at 113.26 and stop loss at 114.21. In case USD is not sustained below the zone 114.05-114.02 but instead it penetrates above it with a big green candle, I expect a retracement to the broken zone followed by a rejection at it confirming possible upwards movement of price, on the other hand, if price penetrates below the level 113.26 with a big red candle, I expect a surge to the lower supportive level 112.72.
Trade recommendation
Sell USD within 114.05-114.02 with your take profit at 113.26.
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