23 November 2020, USD/JPY
Technical observation
Following its rejection at the resistance line 104.11, USD has been declining steadily towards the supportive level 103.52 and price is currently trading above the same line with an increasing bearish bias. I expect either a clear breakout below level 103.52 with a big red candle, or a bounce at it followed by retracement to the key level 104.11. My advice, if you sold this pair at the line 104.11 and is currently short, remain so and pick your profit at the line 103.53 However, if you are currently flat, remain so and wait for either a break below 103.53 or another retracement to the level 104.11 to sell this pair.
Trade recommendation
Remain short with your take profit at 103.52.
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