08 February 2023, USD/JPY
Technical observation
USD declined below the zone 134.17-133.09 with a big red candle then pulled back it and this week price opened bearish within the same zone; as long as the value of USD is sustained below the zone I have mentioned above, I anticipate a further momentum to the lower side. If you sold this pair within the zone 134.17-133.09, I recommend that you remain in the trade with your take profit at the supportive level 103.31 and stop-loss at 139.90 In case of a penetration below 103.31, wait for a correction and a rejection at the broken line before you continue short towards the lower supportive level 76.33 or lower.
Trade recommendation
Remain short with your take profit at 103.31.
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