24 Maret 2020, USD/JPY
Technical observation
USD is rallying below a resistance zone 112.09-111.86 and either a clear penetration above the zone with a big green candle or a rejection within the zone followed by a decline to the zone 108.20-107.99 is anticipated. Right now, remain flat and sell USD within the zone 112.09-111.86 with your take profit at 108.20 and stop loss at 113.19. In case there’s no rejection within the zone mentioned above but a clear breakout above it with a big green candle, wait for a correction to the just broken zone and a rejection within it to enter long positions with your take profit at 114.42 and stop loss at 110.78.
Trade recommendation
Remain flat.