13 апреля 2022, USD/JPY
Technical observation
On the 4 hour chart above price rose significantly to the upper side and broke above the resistance level 124.71 with a big green candle, it then retraced to the just broken line and it was sustained above it, as long as this pair is sustained above the level 124.71, I expect a possible momentum to the upper side. My advice, remain flat and wait for a second correction to the level mentioned above to buy USD towards 125.75. If price is not contained above the level 124.71 but clearly breaks below it with a big red candle, a momentum to the lower side can be expected after a correction to the broken line followed by a rejection at it.
Trade recommendation
Remain neutral.
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