27 апреля 2020, USD/JPY
Technical observation
For several days now, the pair on the daily chart above has been trading below the resistance zone 107.99-107.86 with an increasing bearish momentum. Currently it is rallying downwards and I expect this bearish movement to continue to the key level 104.96. If you sold USD within the zone mentioned above after a rejection, remain short with your take profit at 104.96 and stop loss at 108.86. In case there is a clear breakout below the supportive level 104.96 with a big red candle, wait for a retracement to it and a bounce before you continue short with USD towards the lower supportive level 102.28.
Trade recommendation
Remain short with your take profit at 104.96.
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