USDJPY – Down
The pair on the daily chart above is on an upward trend. Price is currently rallying towards the supportive zone 111.82-111.41, I expect a bounce within it for possible bullish movement of USD towards 114.51, and a possible breach above it for a further rise in price. I would advise you wait for the correction to the zone then pick long positions within it with your take profit at 114.51 and stop loss slightly below 111.41.In case of a clear breakout below 111.41 with a big red candle, wait for a correction to it confirming possible bearish movement of price before you pick short positions towards the supportive line 108.73.
Buy USD/JPY within 111.82-111.41 with your take profit at 114.51 and stop loss slightly below 111.41.
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