01 Septiembre 2022, USD/JPY
Technical observation
On the 4 hour chart above price is trading with an increasing bearish bias at the resistance level 139.48 and as long as it is sustained below this zone I expect a continuation of this downwards movement to the supportive zone 136.51-136.26 followed by a rejection within it. My advice, remain neutral and wait for a pullback to the zone I have mentioned above then buy a bounce within it with your take profit at 139.48 and stop loss at 134.91, should there be a clear break above the level 139.48, I expect the value of USD to rally further to the upper side, but in case of a break below the 136.51-136.26, I anticipate bearish momentum towards the level 131.91.
Trade recommendation
Remain flat.
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