24 июня 2020, USD/JPY
Technical observation
On the chart above, price declined up to the supportive line 106.45 but did not penetrate below it. Right now USD is rising steadily and I expect this upwards momentum to continue to the resistance zone 107.51-107.45 followed by a bounce within it for bearish price rally. My advice, remain flat and wait for a correction to the zone 107.51-107.45 followed by a rejection within it to sell USD with your take profit at 106.45 and stop loss at 107.86. If this take profit is triggered and there is a clear breakout below it with a big red candle, wait for a pullback to the just broken line before you continue short with USD.
Trade recommendation
Remain flat.
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