22 April 2022, USD/JPY
Technical observation
USD has been on a steady upward trend for several weeks now and it is still showing signs of rising even further. I however expect a correction to the level 125.60 followed by a rejection at it to pick long positions with my take profit at 135.20 and stop loss at 122.64. In case this pair declines below the level 125.60 with a big red candle, I expect a possible correction to the supportive zone 114.33-113.73 to re-buy USD, but in case of a clear break below the zone mentioned above, I expect a further surge to the lower side after a correction to the same zone. Right I would recommend that you remain neutral with the pair above.
Trade recommendation
Remain neutral.
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