08 April 2022, USD/JPY
Technical observation
The value of the pair on the chart above has been rising steadily and this week I expect it to ascend up to the resistance level 125.55, at this level I expect a rejection of price followed by a correction to the supportive zone 113.67-114.15 to pick long positions with my take profit at 125.55 and stop loss at 111.07. In case of a clear breach below the zone mentioned above, I expect a surge to the lower side after a pull back to the zone. On your way downwards the key levels to look for include, 104.44, 94.23 and the lower supportive level 84.19. Right now remaining neutral with the pair above is ideal than picking any positions.
Trade recommendation
Remain flat.
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