25 January 2021, USD/JPY
Trade recommendation
USD did not rally downwards as I had predicted, instead, it rose and broke above the zone 103.68-103.63 and is currently trading with an increasing bearish momentum above it. I expect a loss if this downwards movement within the zone mentioned above for a possible rally to the upper side. My advice, remain neutral temporarily and buy a bounce within the zone 103.68-103.63 with your take profit at 104.68 and stop loss at 103.29. In case there is a clear breakout above the line 104.68 with a big green candle, wait for a correction to the line and a bounce before you continue long towards the level 105.56.
Trade recommendation
Remain flat temporarily.
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