22 марта 2021, USD/JPY
Technical observation
USD is trading with an increasing bullish bias below the resistance line 109.23, however I expect a decline the supportive zone 106.83-106.66 followed by rejection within it to pick long positions. My advice, remain neutral and wait for a correction to the zone mentioned above and a bounce within it to buy USD with your take profit at 109.23 and stop loss a 105.79. In case of a penetration above the line 109.23 with a big green candle, wait for a correction to the just broken line and a bounce at it confirming further bullish movements before you continue long towards the resistance line marked at 112.07.
Trade recommendation
Remain neutral.
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