30 Mei 2019, USD/JPY
Technical observation
On the 4 hour chart above price corrected itself to the line 109.68 and was rejected at it before declining for a few hours, it is currently rising to the same level and I expect a bounce at it for bearish momentum towards the level 108.68 and a possible breakout below it for a further decline in price towards 107.51.Wait for the retracement to 109.68 and a rejection at it to sell USD with your take profit at 108.68 and stop loss at 109.92, in case this take profit is hit and there’s a clear breach below it, continue short with this pair after a correction and a rejection at the just broken line confirming further bearish rally.
Trade recommendation
Sell USD at 109.68 with your take profit at 108.68 and stop loss at 109.92.