USDJPY – Down
On the daily chart above,USDJPY retraced at a key zone( 107.91-107.70) thrice before moving down, currently price is within the zone and I expect a rejection of it within it for a possible bearish move towards the key line 104.64,I would advise you wait for a close within the zone to sell USD with your take profit at 104.64 and stop loss around 108.66.In case of a breakout below 104.64,wait for a correction to it then continue short with USD.In case there’s a clear breach above the zone (107.91-107.70) with a big green candle, wait for a correction to the zone then long USD towards the key line 110.24.
Wait for a close within or around (107.91-107.70) to sell USD towards 104.64.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.