06 апреля 2021, USD/JPY
Technical observation
USD is declining steadily towards a supportive level 109.23, this bearish movement is a correction to the line mentioned above and I expect a rejection of price at it for a momentum to the upper side. My advice, remain flat temporarily and wait for a correction to the line 109.23 and a bounce at it to buy USD with your take profit at 112.07 and stop loss at 108.32. In case of a breakout above the line 112.07 with a big green candle, wait for a correction to it and a bounce confirming further bullish movements of price before you continue long with this pair. As it is on the daily chart above, I can only recommend bullish positions for USD.
Trade recommendation
Wait for a correction to the line 109.23 to buy USD.
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