USDJPY – Down
Previously on the daily chart above, USD broke a support zone (111.47-111.29) and retraced twice to it before continuing short up to a support line 110.22,it then broke below it and is currently pulling back towards it.I expect a rejection at it to continue short with the pair towards 107.79,if price breaks above 110.22 then I’ll wait for a correction at (111.47-111.29)then short USD,as long as price remains below this zone only short positions can be advised. If there’s a clear bullish breach above this zone then buy USD after a retracement to the zone with your take profit at 113.45.
Sell USDJPY at 110.22 with your take profit at 107.79 and stop loss at 110.89.
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