12 Juni 2019, USD/JPY
Technical observation
Yesterday USD corrected to the resistance zone 108.99-108.74 as expected and was rejected. Today I expect bearish momentum towards the supportive level 106.44 followed by a clear breach below it with a big red candle. My advice, sell USD within the zone 108.99-108.74 with your take profit at 106.44 and stop loss at 109.70. Should there be a clear breakout above the zone 108.99-108.74 followed by a correction and a rejection within it, upwards movement of this pair can be anticipated, however, as long as long as USD is contained below the zone, only bearish price movements can be expected on the daily chart above.
Trade recommendation
Sell USD within 108.99-108.74 with your take profit at 106.44 and stop loss at 109.70.