26 декабря 2018, USD/JPY
Technical observation
USD/JPY is still declining towards the support level 109.45 and my expectation is either a rejection at it followed by a correction to the just broken line 111.85 and a rejection at it for downwards movement of price, or a penetration below the level with a big red candle followed by a correction to it for possible bearish momentum of GBP towards 107.40.Right now as price is rallying between the support 109.45 and the resistance 111.85,I would advise you remain neutral and wait for either a correction to 111.85 or a breakout below 109.45 to trade this pair. Only the daily chart above only short positions look ideal and can be recommended.
Trade recommendation
Remain flat.
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