01 Tháng Năm 2020, USD/JPY
Technical observation
USD is declining steadily towards the key level 104.96 and my expectation is a clear penetration below it with a big red candle. If you sold this pair within the zone 107.99-107.79 after a rejection, remain short with your take profit at 104.96 and stop loss at 108.84. In case of a breach below the line 104.96, wait for a correction and a rejection at it that confirms further bearish price movements before you continue short with this pair towards the lower supportive level 102.28. On the daily chart above, as long as price is contained below the resistance zone 107.99-107.79, only short positions look ideal.
Trade recommendation
Remain short with your take profit at 104.96.