03 апреля 2020, USD/JPY
Technical observation
USD is trading below a resistance zone 107.99-107.86 with an increasing bullish momentum. I expect a loss of this upwards movement within the zone for possible bearish price rally towards the supportive level 104.96 followed by a possible breach below it. My advice, wait for a correction to 107.99-107.86 and a rejection within it to sell USD with your take profit at 104.96. In case this take profit is hit and there’s a clear breakout below it with big red candle, wait for a correction to the just broken level and a rejection at it to confirm further bearish movements before you continue short towards 102.28.
Trade recommendation
Sell USD within 107.99-107.86 with your take profit at 104.96.
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