14 февраля 2020, USD/JPY
Technical observation
Yesterday USD corrected itself to a supportive zone it established around 109.74-109.62. I expect a loss of this bearish price rally within the zone followed by a rise to the level 111.00. However, Should there be no rejection within the zone 109.74-109.62 but a clear penetration below it with a big red candle, wait for a correction to the just broken zone to confirm bearish movements before you sell USD. Right now, buy USD within 109.74-109.62 after a rejection with your take profit at 111.00 and stop loss at 108.68. In case of a clear breakout above 111.00 with a big green candle, continue long towards the level 112.37
Trade recommendation
Buy USD within 109.74-109.62 with your take profit at 111.00.
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