29 Tháng Mười 2021, USD/JPY
Technical observation
The current candle on the weekly chart above is trading on a bearish pin bar formation indication a possible momentum to the lower side as I predicted in my previous review on this chart. As it is, as long as USD is sustained below the supportive zone 114.78-114.48, I can only recommend bearish positions for this pair. On the flip side, if price clearly penetrates above the zone I have mentioned above with a big green candle, I expect a correction to the broken zone followed by a rejection within it and a momentum to the upper side. If you sold USD at the level 104.48 after a bounce remain short with your take profit at 104.68 and stop loss at 117.87.
Trade recommendation
Remain short with your take profit at 104.64.
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