USDJPY – Down
After breaking below a support zone (108.44-108.12),USDJPY traded up to a key support line 108.55,it could not break below it and so it got rejected and is currently rallying towards the broken support zone, I expect a possible rejection of it at the zone to short the pair with my take profit at 105.55 and stop loss around 109.77.If it breaks down below 10555,wait for a correction to it before you continue short. If there’s a clear breach of price above (108.44-108.12),wait for a correction to it before you long USD with your first take profit at 111.40 and the next around 114.32.
Wait for a correction to (108.44-108.12), then sell USDJPY with your take profit at 105.55 and stop loss around 109.77.
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