16 Tháng sáu 2021, USD/JPY
Technical observation
On the chart above, price is trading with an increasing bullish bias between a supportive zone 104.74-104.22 and a resistance level 114.53, in case of a momentum to the upper side followed by a clear breakout above the resistance level 114.53, I anticipate a further rise to the key level 125.70 after a correction to the just broken line. However, if price declines to the zone 104.74-104.22, you can buy USD within it after a bounce with your take profit at 114.53 and stop loss at 102.31. I can only recommend short positions in case of a clear penetration below the zone 104.74-104.22 followed by a correction to it.
Trade recommendation
Remain neutral.
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