The USD/JPY currency pair has fallen off the uptrend line well, but growth may be limited by 109.30-108.95.
In general, there are 2 options for a deal on Buy and one version of a deal on Sell:
- The price will once again be marked on the trend line. But it seems to me that this transaction is risky, as the price jumped well from the zone 109.30-108.95. In general, there is a purchase from the zone 108.05-107.87, but it is risky and therefore the risk in it should be minimal (in%) and with 30 pips of profit SL should be transferred to the bank.
- The price goes even lower. I think there is a good option of a price hike to the zone 107.00-106.70. Buying from this zone is less risky, since this zone is very good support and after the breakdown, there was only one hit of the price into it. Purpose of purchase, zone 108.05-107.87.
- The price will unfold in the zone 109.30-108.95. This option is quite possible, since there was already a good rebound with the tail up (shadows) and it was this shadow that strengthened the importance of this zone. Sales target, uptrend.