23 Maret 2021, USD/JPY
Technical observation
USD is trading with an increasing g bearish bias above a trend line as indicated on the hourly chart above. I expect a loss of this bearish movement at the trend line for possible bullish movements of price. My advice, wait for a correction to the line indicated on the chart above to buy USD with your take profit at 109.36 and stop loss at 108.01. In case of a clear breakout below it the zone 108.37-108. 33 with a big red candle, you can anticipate a surge to the lower side towards the supportive level 107.43, however as long as price is contained d above the zone 108.37-108. 33, I expect only bullish movement of price.
Trade recommendation
Remain flat.