28 Diciembre 2020, USD/JPY
Technical observation
USD bounced within the resistance zone 103.73-103.68 and is currently trading with an increasing bearish bias, I expect this downwards movement to continue to the supportive level 103.03 followed by a possible breakout below it, and however, price can still be rejected at the line. If you sold USD within the zone mentioned above after a bounce, remain short with your take profit at 103.03 and stop loss at 104.03. In case of break above the zone 103.73-103.68 with a big green candle, wait for a correction to the just broken zone confirming possible bullish movements of price before you buy USD towards 104.52.
Trade recommendation
Remain short with your tp at 103.03.
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