05 Tháng mười một 2021, USD/JPY
Technical observation
The pair on the 4 hour chart above is trading with an increasing bearish bias above the supportive zone 113.43-113.31,this bearish movement is a correction to the zone mentioned above and I expect a rejection of the price it followed by a surge to the upper side, however, there is a possibility of a clear breakout below the same zone with a big red candle and if this is the case, wait for a correction to the broken zone then pick short positions on the second retracement to the zone with your take profit at 111.95 and stop loss at 113.78. Right now remain neutral temporarily and wait for a bounce within 113.43-113.31 to buy USD.
Trade recommendation
Remain flat.
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