20 Noviembre 2020, USD/JPY
Technical observation
USD pulled back to the resistance line 104.11 as anticipated and did not break above it; price bounced at the line and is currently trading with an increasing bearish momentum. I expect this downwards movement to continue to the supportive level followed by a clear breakout below it for a momentum to the lower side. If you sold USD at the line 104.11 after a bounce, remain short with your take profit at 103.49 and stop loss at 104.38. In case of a clear breakout below the line 103.49 with a big red candle, wait for a correction to it confirming further bearish movements before you continue short.
Trade recommendation
Remain short with your take profit at 103.49.
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