04 July 2019, USD/JPY
Technical observation
After its rejection within the resistance zone 108.75-108.57, USD has been rallying with an increasing bearish momentum and may extend even lower, this downwards movement is highly expected since price has remained below the zone 108.75-108.57 and while price remains below it, I expect a surge to the lower side, however, in case of a penetration above 108.75-108.57 then bullish movements of this pair can be expected after a pullback to the just broken zone, on your way upwards the key lines to look for include 110.49, 112.23 and 114.14. Right now remain short with your take profit at 106.45 and stop loss at 109.60.
Trade recommendation
Remain short with your take profit at 106.45 and stop loss at 109.60.
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