20 Tháng Năm 2019, USD/JPY
Technical observation
USD is trading on an increasing bullish momentum between a resistance zone 114.76-114.30 and a support 106.11, my expectation is either a correction to the above mentioned zone followed by a bounce within it to re-sell USD with your take profit at 106.11 and stop loss at 116.56, or a decline to the level 106.11 followed by a clear penetration below it and a correction to it to pick short positions with your take profit at 100.62 and stop loss at 109.79.In case price rises to 114.76-114.30 but is not rejected within it instead it penetrates above, bullish movements of this pair towards the resistance level 121.74 can be anticipated.
Trade recommendation
Remain neutral.