10 Tháng sáu 2021, USD/JPY
Technical observation
On the hourly chart above, price retraced to a resistance zone it established at 109.66-109.63 then bounced within the zone and now it is trading with an increasing bearish bias. I expect this downwards movement to continue to the supportive level 109.19 followed by a clear breakout below it with a big red candle. My advice, if you sold USD within the zone 109.66-109.63 after a bounce, remain short with your take profit at 109.19 and stop loss at 109.83. In case of a penetration below the level 109.19 with a big red candle, I expect a further surge in price to the supportive level 108.65 after a correction to the just broken line.
Trade recommendation
Remain short with your take profit at 109.19.
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