09 Diciembre 2020, USD/JPY
Technical observation
On the hourly chart above, price is trading below a resistance zone 104.20-104.18 with an increasing bullish bias. I expect either a loss of this upwards movement within the zone or a clear breakout above it with a big green candle. In case of a bounce within 104.20-104.18, sell USD within it with your take profit at 103.94 and stop loss at 104.29. However, should price penetrate above the same zone with a big green candle, wait for a correction to it and a bounce confirming a possible momentum to the upper side before you buy USD with your take profit at 104.46 and stop loss at 104.08.
Trade recommendation
Remain flat temporarily.
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