Remain short towards 104.96 | 02 April 2020
02 April 2020, USD/JPY
Technical observation
On the daily chart above USD corrected to a resistance zone 107.99-107.86 but it did not break above it and was contained. Since its rejection within the above-mentioned zone, USD has been trading on an increasing bearish momentum and I expect this downwards movement to continue towards the key level 104.96. If you sold USD within the zone 107.99-107.086 after a bounce, remain short with your take profit at the level 104.96 and stop loss at 108.69. As long as price is contained below the resistance zone 107.99-109.86, only downwards movements of his pair can be anticipated.
Trade recommendation
Remain short.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
