14 April 2020, USD/JPY
Technical observation
Yesterday USD went down below a supportive zone it established around 107.99-107.86 with a big red candle and is currently trading below the just broken zone with an increasing bearish momentum. I expect a correction to the zone 107.99-107.86 followed by a rejection within it for possible bearish price rally. Remain flat and wait for a retracement to 107.99-107.86 and a rejection within it to sell USD. In case there is no rejection within the zone but a clear breakout above it then the penetration below it was false and a possible rise towards the key level 112.09 can be expected.
Trade recommendation
Remain flat.