USDJPY – Down
USD/JPY is rallying around a support 111.45, I expect either a rejection of price at it followed by a correction to the resistance zone 112.49-112.40 and a bounce within it to re-sell USD, or, a clear breakout below 111.45 with a big red candle and a correction to it for bearish momentum of price towards 110.66.In case of a correction to 112.49-112.40,re-sell USD within it with your take profit at 111.45 and stop loss slightly above 112.49 and should there be a breakout below 111.45,wait for a correction to it before you sell USD with your take profit at 110.66 and stop loss around 112.10.Only short positions can be advisable.
Remain flat temporarily.
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