07 апреля 2021, USD/JPY
Technical observation
USD is trading with an increasing bearish bias above a supportive level 109.23; My expectation is either a loss of this bearish movement at the same level or a rise to the upper side. My advice, remain flat temporarily and wait for a correction to 109.23 to buy USD with your take profit at 112.07 and stop loss at 108.35. In case of a clear penetration below the level 109.23, wait for a correction to it and a bounce before you sell USD with your take profit at 106.83. And in case of a clear penetration below the zone 106.83-106.66, you can anticipate a further momentum to the lower side towards the lower supportive level 102.00.
Trade recommendation
Remain flat temporarily.
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