22 июля 2019, USD/JPY
Technical observation
On the 4-hour chart above, USD broke below a support 107.78 with a big red candle then pulled back to the just broken line but penetrated above it, right now price is trading on an increasing bullish momentum above the line and I expect bearish movements to 107.78. In case price declines to 107.78 and breaks below it then the penetration above 107.78 was false and downwards movements of USD can be expected after a correction and a bounce at the line, however, if USD retraces to 107.78 and is rejected at it then bullish movements towards 108.58 can be expected. Right now remain flat and wait.
Trade recommendation
Remain flat.
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