02 Juli 2021, USD/JPY
Technical observation
For several weeks now USD has been trading with an increasing bullish bias towards the resistance level 114.53, my expectation is a rise to the line I have mentioned above followed by a clear breakout above it with a big green candle. As it is on the chart above, right now remaining neutral is ideal than picking any position. If price breaks above the level 114.53 as I anticipate, wait for a correction to the just broken line and a bounce at it confirming a possible momentum to the upper side before you pick long positions towards the key level 125.70. On the weekly chart above, I can only recommend short positions below the supportive zone 104.74-104.22.
Trade recommendation
Remain flat.