30 Juli 2019, USD/JPY
Technical observation
Yesterday USD did not go down as had been predicted but instead rallied upwards and still could not penetrate above the resistance zone it established around 108.86-108.68. Currently price is trading within the above mentioned zone on an increasing bearish bias and I expect this movement to continue towards the support 107.08 followed by a clear penetration below it. My advice, sell this pair within the zone 108.86-108.68 with your take profit at 107.08 and stop loss at 109.59, in case this line is broken wait for a correction and a rejection at it confirming further bearish price rally before you continue short with USD.
Trade recommendation
Sell USD within 108.86-108.68 with your take profit at 107.08 and stop loss at 109.59.