Remain flat | 25 May 2020
25 May 2020, USD/JPY
Technical observation
On the daily chart above, price is trading below the resistance zone 107.99-107.79 with an increasing bullish momentum. My expectation is either a loss of this bullish movement within the above-mentioned zone for possible bearish price rally towards the supportive level 104.96, or, a clear penetration above the zone with a big green candle for bullish movements of price. In case of a rejection within the zone 107.99-107.79, sell USD within it with your take profit at 104.96 and stop loss at 108.73. However, in case of a clear breach above the zone, wait for a correction to it before you pick long positions.
Trade recommendation
Remain flat temporarily.
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.
