08 сентября 2020, USD/JPY
Technical observation
USD is trading between a supportive zone 106.10-106.07 with an increasing bearish momentum. I expect either correction to the zone mentioned above followed by a rejection within it to pick long positions or a rise to the line 106.46 followed by a clear breakout above it. In case of a decline to the zone 106.10-106.07, buy USD within it after a bounce with your take profit at 106.46 and stop loss at 105.87. Should there break above 106.46, wait for a correction to it and a bounce to buy USD with your take profit at 106.86. Right now as it so on the chart above, remaining neutral is ideal than picking any position.
Trade recommendation
Remain neutral.
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