01 июля 2020, USD/JPY
Technical observation
USD is trading with an increasing bullish momentum between a supportive level 104.65 and a resistance zone 114.32-113.97. My expectation is either a decline to the supportive level followed by a clear breach below it with a big red candle, or a rise to the resistance zone mentioned above followed by a clear breakout above it. In case of a clear penetration below 104.65, wait for a pullback to it and a rejection to confirm possible bearish movements of price before you sell USD. Right now remaining flat with thin pair is ideal than entering any position.
Trade recommendation
Remain flat.
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