29 Mei 2019, USD/JPY
Technical observation
On the 4 hour chart above, price went down from a resistance line 109.68 for some time before retracing to it again but was rejected and continued downwards. Right now USD is correcting to the same level and I expect a rejection of it at the line for bearish price rally towards 108.68 and a breach below it for a further decline in value towards the lowest supportive level 107.51.Wait for a correction to 109.68 and a rejection at it to short USD with your take profit at 108.68 and stop loss at 109.94, if price breaks below the line 108.68, continue short after a retracement with your take profit at 107.51 and stop loss at 109.01.
Trade recommendation
Sell USD at 109.68 with your take profit at 108.68 and stop loss at 109.94.