25 Tháng Mười 2021, USD/JPY
Technical observation
USD rose up to the resistance zone 114.78-114.48 as I had predicted but could not break above it. It bounced below the zone and last week price rallied to the lower side. As it is on the weekly chart above, as long as USD is contained below the zone I have mentioned above, I expect bearish movements of price, However, in case of a clear break above the same zone with a big green candle, I expect a pullback to the broken zone and a rejection of price within it confirming possible bullish movements of price to the resistance level 125.31. If you are currently bullish with this pair, remain in the trade but not for a long time.
Trade recommendation
Remain short.
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