30 Tháng sáu 2021, USD/JPY
Technical observation
USD trading with in increasing bearish bias between a supportive zone 109.77-109.71 and a resistance level 114.04, this bearish movement is a correction to the zone I have mentioned above and I expect a loss of it within the same zone for a momentum to the upper side. My advice, wait for a correction to the zone 109.77-109.71 and a bounce at it to buy USD with your take profit at 114.04 and stop loss at 109.38. In case of a clear breakout above the level 114.04 with a big green candle, I expect a further momentum to the upper side after a retracement to then just broken zone. I can only recommend short positions below 109.77-109.71.
Trade recommendation
Wait for a correction to 109.77-109.71 to buy USD.
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