25 November 2021, USD/JPY
Technical observation
Yesterday price did not retrace to the supportive level 114.46 as I has anticipated, instead it rose and broke above the highest resistance level 115.19 with a big green candle. As long as price remains above this zone, I expect a further surge to the upper side. Right now I would advise you remain neutral and wait for a correction to the just broken level then buy a bounce at it towards 115.51. In case of a clear penetration below the supportive level 115.19 with a big red candle, I expect a retracement to the level 114.46 followed by a bounce at it and a momentum to the upper side. You can only anticipate bearish movement below the level 114.46.
Trade recommendation
Wait for a correction to the level 115.9 to buy USD.
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