Technical outlook and chart setups:
The currency pair has entered in a trading range as depicted here in the daily chart. The support region is 141.00, while resistance region is 143.00 respectively. The trade strategy should be now according to the sideways setup; Sell the resistance, Buy the support and trade the breakout. It is recommended to remain short at the moment since an engulfing bearish candle has appeared in the resistance zone. Risk remains at 143.20. Lower support levels are spread through 138.50, followed by 137.00, and lower. A break on either side should be traded accordingly.
Trading recommendations:
Sell after resistance and buy upon support for now.
Good luck!
