22 September 2022, USD/JPY
Technical observation
On the hourly chart above USD rose above a resistance level 144.95 with a big green candle and currently it is trading above the just broken line with an increasing bullish bias, however, I expect a loss of this upwards movement followed by a retracement of price to the level mentioned above to pick long positions towards 147.10 with my stop-loss at 144.39. If price breaks below the level 144.95, I expect it to surge to the lower side after a correction and a rejection at the broken line, on your way downwards the ley levels to look for include 141.64, 139.18, the supportive zone 135.78-135.49, and the lower key level 130.34.
Trade recommendation
Remain flat.
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