04 марта 2021, USD/JPY
Technical observation
USD slightly broke above the level 106.94 and is currently trading above it with an increasing bullish bias. I expect either a clear break above it with a big green candle followed by correction to it for a momentum to the upper side. My advice, remain flat and wait for a correction to the line 106.94 and a bounce at it before you buy USD with your take profit at 109.58 and stop loss at 105.87. Should there be a clear breakout above the line 109.58 with a big green candle, wait for a pullback to it and a bounce confirming a further momentum to the upper side before you continue long with your take profit at 112.12.
Trade recommendation
Remain neutral.
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