USDJPY – Down
USD/JPY Broke above a resistance zone 107.68-107.31,it did not correct to the broken zone but instead it rose steadily towards a resistance line 110.14.Last week, price broke above 110.14 with a big green candle and is still above it rising towards the resistance line 114.28.I expect a correction of price to the just broken line for possible bullish momentum towards the resistance line 114.28 and a breakout above it for a further rise in price towards 121.13.I would advise you wait for a correction to 110.14 then buy USD around it with your take profit at 114.28 and stop loss around 108.22.Only long positions can be recommended.
Wait for a pullback to 110.14 to buy USD with your take profit at 114.28 and stop loss around 108.22.
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