05 мая 2020, USD/JPY
Technical observation
USD is rallying below a resistance zone 107.99-107.79 with an increasing bearish momentum and as long as it is contained below it I expect this downwards rally to continue to the supportive line 104.96. If you sold this pair within the zone mentioned above, remain short with your take profit at 104.96 and stop loss at 108.86. In case price hit this take profit and there is clear penetration below it with a big red candle, wait for a correction to the just broken line and a rejection at it to confirm further bearish price movements before you continue short with this pair towards the lower supportive level 102.28.
Trade recommendation
Remain short with your take profit at 104.96.
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