31 Mei 2019, USD/JPY
Technical observation
Yesterday USD corrected to the resistance level 109.68 as predicted and could not penetrate above it then was rejected at it before rallying downwards towards a support 108.68.Right now price is still trading on an increasing bearish momentum and I expect more of this movement today to the line 108.68 followed by a clear penetration below it for a further surge to the lower side to the key line 107.51.If you went short with this pair at 109.68 after a bounce, remain short with your take profit at 108.68 and stop loss at 109.93 but if you are not in a trade yet, remain neutral and wait for a breach below 108.68 and a correction to sell USD.
Trade recommendation
Remain short with your take profit at 108.68 and stop loss at 109.93.