14 January 2019, USD/JPY
Trade recommendation
On the weekly chart above price is rallying around a support level marked at 107.79, my expectation is a decline below the level followed by a correction to it confirming possible bearish price rally towards 100.13. You can remain flat and wait for the breakout below the key level and a pull back to it to sell this pair with your take profit at 100.13 and stop loss at 111.20, if price does not breakout below 107.79 then I would expect a correction to the resistance zone 115.43-114.56 and a rejection within it to re-sell USD with your take profit at 107.90 and stop loss at 118.55.Long positions may only be advisable above the zone 115.43-114.56.
Trade recommendation
Remain flat.
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