USD/JPY mid-term resistance. Can we forecast a downward rebound?
USD/JPY mid-term resistance. Can we forecast a downward rebound?

After dynamic rallies during recent sessions, USD/JPY on the daily chart approached mid-term resistance line (103.31). As you can see on the above chart, historically this is an important zone which previously stopped increases few times . We should observe the price on lower intervals (H4, H1) and if they give clear selling signal (e.g. price action one) buy PUT option (before 23:30CET). Currently, hourly chart shows doji (pin-bar) candle, which may indicate corrective, downward rebound.

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